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[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2310 Introduced in House (IH)]

110th CONGRESS
  1st Session
                                H. R. 2310

  To amend the Immigration and Nationality Act to permit certain E-2 
 nonimmigrant investors to adjust status to lawful permanent resident 
                                status.

_______________________________________________________________________

                    IN THE HOUSE OF REPRESENTATIVES

                              May 14, 2007

  Mrs. Wilson of New Mexico introduced the following bill; which was 
               referred to the Committee on the Judiciary

_______________________________________________________________________

                                 A BILL

 
  To amend the Immigration and Nationality Act to permit certain E-2 
 nonimmigrant investors to adjust status to lawful permanent resident 
                                status.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``E-2 Nonimmigrant Investor Adjustment 
Act of 2007''.

SEC. 2. ADJUSTMENT TO LAWFUL PERMANENT RESIDENT STATUS OF CERTAIN E-2 
              NONIMMIGRANT INVESTORS.

    (a) In General.--Section 203(b)(5) of the Immigration and 
Nationality Act (8 U.S.C. 1153(b)(5)) is amended--
            (1) in subparagraph (A)(ii), by inserting ``except as 
        provided in subparagraph (E)(i)(II),'' after ``(ii)'';
            (2) in subparagraph (C)(i), by inserting ``and subparagraph 
        (E)(i)(I)'' after ``Except as provided in this subparagraph''; 
        and
            (3) by adding at the end the following new subparagraph:
                    ``(E) Special rules for certain e-2 nonimmigrant 
                investors.--
                            ``(i) In general.--In the case of an alien 
                        who has been present in the United States in 
                        the status of an alien described in section 
                        101(a)(15)(E)(ii) for at least five years--
                                    ``(I) the amount of capital 
                                required under subparagraph (A) shall 
                                be $200,000; and
                                    ``(II) the alien is deemed as 
                                satisfying the requirement of 
                                subparagraph (A)(ii) if the enterprise 
                                has created full-time employment for 
                                not fewer than two individuals (or five 
                                individuals for each year after the 
                                third year in such status) described in 
                                such subparagraph (A)(ii).
                            ``(ii) Limitation.--Not more than 3,000 
                        visas may be made available under this 
                        paragraph to principal aliens described in 
                        clause (i) in any fiscal year.''.
    (b) Effective Date.--The amendments made by subsection (a) shall 
take effect on the date of the enactment of this Act. Periods of 
presence in the United States in the status of an alien described in 
section 101(a)(15)(E)(ii) of the Immigration and Nationality Act (8 
U.S.C. 1101(a)(15)(E)(ii)) before such date shall be counted towards 
satisfying the time requirement specified in subparagraph (E) of 
section 203(b)(5) of such Act (8 U.S.C. 1153(b)(5)) (as added by 
paragraph (3) of subsection (a)).
    (c) Immediate Eligibility of Adjustment of Status of Certain Long-
Term E-2 Nonimmigrant Investors.--An alien who has been present in the 
United States as an E-2 nonimmigrant investor for at least five years 
may be immediately eligible to adjust status to that of an alien 
lawfully admitted for permanent residence pursuant to the amendment 
made by subsection (a).
                                 <all>
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