Public Description:
H.R. 714, the Startup Act 3.0, would establish 125,000 new conditional permanent resident visas: 50,000 for graduates in science, technology, engineering, and mathematics (STEM), and 75,000 for qualified immigrant entrepreneurs. STEM graduates must remain “actively engaged” in a STEM field for 5 years in order to retain the visa, which includes a year of diligently searching for employment and the remaining years employed in the U.S. in a STEM field. Those who lose their jobs have a 6-month period to find a new job in a STEM field, as long as their unemployment follows at least a year of employment. These individuals will not be eligible for any form of public benefit for the duration of the visa. Following a 6-year period, the condition of the immigrant’s permanent residence is removed.
