‘‘(II) is a United States citizen; 
and 
‘‘(III) has made at least 2 equity 
investments of not less than $50,000 
in each of the previous 3 years. 
‘‘(ii) 
QUALIFIED
VENTURE
CAPI-
TALIST.—The term ‘qualified venture capi-
talist’ means an entity that— 
‘‘(I) is classified as a ‘venture 
capital operating company’ under sec-
tion 2510.3–101(d) of title 29, Code 
of Federal Regulations; 
‘‘(II) is based in the United 
States; 
‘‘(III) is comprised of partners, 
the majority of whom are United 
States citizens; 
‘‘(IV) has capital commitments of 
not less than $10,000,000; 
‘‘(V) has been operating for at 
least 2 years; and 
‘‘(VI) has made at least 2 invest-
ments of not less than $500,000 dur-
ing each of the most recent 2 years.’’. 
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(b) CONDITIONAL
PERMANENT
RESIDENT
STA-
TUS.—Section 216A of the Immigration and Nationality 
Act (8 U.S.C. 1186b) is amended— 
(1) by striking ‘‘Attorney General’’ each place 
such term appears and inserting ‘‘Secretary of 
Homeland Security’’; 
(2) in subsection (a)— 
(A) in paragraph (1)— 
(i) by striking ‘‘(as defined in sub-
section (f)(1))’’ and inserting ‘‘, sponsored 
entrepreneur’’; and 
(ii) by striking ‘‘(as defined in sub-
section (f)(2)) shall’’ and inserting ‘‘shall 
each’’; and 
(B) in paragraph (2)(A), by inserting 
‘‘sponsored entrepreneur,’’ after ‘‘alien entre-
preneur,’’; 
(3) in subsection (b), by adding at the end the 
following: 
‘‘(3) SPONSORED ENTREPRENEURS.—The Sec-
retary of Homeland Security shall terminate the per-
manent resident status of a sponsored entrepreneur 
and the alien spouse and children of such entre-
preneur if the Secretary determines, not later than 
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3 years after the date on which such permanent resi-
dent status was conferred, that— 
‘‘(A) the qualified venture capitalist or 
qualified super angel investor who sponsored 
the entrepreneur failed to meet the investment 
requirements under section 203(b)(6)(A)(i); or 
‘‘(B) the entrepreneur failed to meet the 
job creation, capital investment, or revenue gen-
eration 
requirements 
under 
section 
203(b)(6)(A)(ii).’’; 
(4) in subsection (c)— 
(A) in paragraph (1)— 
(i) in the matter preceding subpara-
graph (A), by inserting ‘‘sponsored entre-
preneur,’’ after ‘‘alien entrepreneur,’’; and 
(ii) by striking ‘‘alien entrepreneur 
must’’ each place such term appears and 
inserting ‘‘entrepreneur shall’’; and 
(B) in paragraph (3)— 
(i) in subparagraph (A)(ii), by insert-
ing ‘‘or sponsored entrepreneur’’ after 
‘‘alien entrepreneur’’; and 
(ii) in subparagraph (C), by inserting 
‘‘sponsored entrepreneur,’’ after ‘‘alien en-
trepreneur’’; 
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(5) in subsection (d)(1)— 
(A) in the matter preceding subparagraph 
(A), by striking ‘‘alien’’ and inserting ‘‘alien en-
trepreneur or sponsored entrepreneur, as appli-
cable’’; 
(B) in clause (i), by striking ‘‘invested, or 
is actively in the process of investing,’’ and in-
serting ‘‘has invested, is actively in the process 
of investing, or has been sponsored by a quali-
fied super angel investor or qualified venture 
capitalist who has invested,’’; and 
(C) in clause (ii), by inserting ‘‘or 
203(b)(6), as applicable’’ before the period at 
the end; and 
(6) in subsection (f), by adding at the end the 
following: 
‘‘(4) The term ‘sponsored entrepreneur’ means 
an alien who obtains the status of an alien lawfully 
admitted for permanent residence under section 
203(b)(6).’’. 
SEC. 3. GOVERNMENT ACCOUNTABILITY OFFICE STUDY. 
(a) IN GENERAL.—Not later than 2 years after the 
date of the enactment of this Act, the Comptroller General 
of the United States shall submit a report to Congress 
on the StartUp Visa Program, authorized under section 
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203(b)(6) of the Immigration and Nationality Act, as 
added by section 2. 
(b) CONTENTS.—The report described in subsection 
(a) shall include information regarding— 
(1) the number of immigrant entrepreneurs who 
have received a visa under the immigrant entre-
preneurs 
program 
established 
under 
section 
203(b)(6) of the Immigration and Nationality Act, 
listed by country of origin; 
(2) the localities in which such immigrant en-
trepreneurs have initially settled; 
(3) whether such immigrant entrepreneurs gen-
erally remain in the localities in which they initially 
settle; 
(4) the types of commercial enterprises that 
such immigrant entrepreneurs have established; and 
(5) the types and number of jobs created by 
such immigrant entrepreneurs. 
Æ 
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