I 
112TH CONGRESS 
1ST SESSION H. R. 1114 
To establish an employment-based immigrant visa for alien entrepreneurs 
who have received significant capital from investors to establish a busi-
ness in the United States. 
IN THE HOUSE OF REPRESENTATIVES 
MARCH 16, 2011 
Mrs. MALONEY introduced the following bill; which was referred to the 
Committee on the Judiciary 
A BILL 
To establish an employment-based immigrant visa for alien 
entrepreneurs who have received significant capital from 
investors to establish a business in the United States. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘StartUp Visa Act of 
2011’’. 
SEC. 2. STARTUP VISAS. 
(a) IN GENERAL.—Section 203(b) of the Immigra-
tion and Nationality Act (8 U.S.C. 203(b)) is amended— 
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(1) by redesignating paragraph (6) as para-
graph (7); and 
(2) by inserting after paragraph (5) the fol-
lowing: 
‘‘(6) SPONSORED ENTREPRENEURS.— 
‘‘(A) IN GENERAL.—StartUp visas shall be 
made available, from the number of visas allo-
cated under paragraph (5), to qualified immi-
grant entrepreneurs— 
‘‘(i)(I) who have proven that a quali-
fied venture capitalist, a qualified super 
angel investor, or a qualified government 
entity, as determined by the Secretary of 
Homeland Security, has invested not less 
than $100,000 on behalf of each such en-
trepreneur; and 
‘‘(II) whose commercial activities will, 
during the 2-year period beginning on the 
date on which the visa is issued under this 
subparagraph— 
‘‘(aa) create not fewer than 5 
new full-time jobs in the United 
States employing people other than 
the immigrant’s spouse, sons, or 
daughters; 
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‘‘(bb) 
raise 
not 
less 
than 
$500,000 in capital investment in fur-
therance of a commercial entity based 
in the United States; or 
‘‘(cc) generate not less than 
$500,000 in revenue; 
‘‘(ii)(I) who— 
‘‘(aa) hold an unexpired H1–B 
visa; or 
‘‘(bb) have completed a graduate 
level degree in science, technology, en-
gineering, math, computer science, or 
other relevant academic discipline 
from an accredited United States col-
lege, university, or other institution of 
higher education; 
‘‘(II) who demonstrate— 
‘‘(aa) annual income of not less 
than 250 percent of the Federal pov-
erty level; or 
‘‘(bb) the possession of assets 
equivalent to not less than 2 years of 
income at 250 percent of the Federal 
poverty level; and 
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‘‘(III) who have proven that a quali-
fied venture capitalist, a qualified super 
angel investor, or a qualified government 
entity, as determined by the Secretary of 
Homeland Security, has invested not less 
than $20,000 on behalf of each such entre-
preneur; or 
‘‘(iii) who have a controlling interest 
in a foreign company— 
‘‘(I) that has generated, during 
the most recent 12-month period, not 
less than $100,000 in revenue from 
sales in the United States; and 
‘‘(II) whose commercial activities, 
during the 2-year period beginning on 
the date on which the visa is issued 
under this subparagraph, will— 
‘‘(aa) create not fewer than 
3 new full-time jobs in the 
United States that employ people 
other 
than 
the 
immigrant’s 
spouse, sons, or daughters; 
‘‘(bb) raise not less than 
$100,000 in capital investment in 
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furtherance of a commercial enti-
ty based in the United States; or 
‘‘(cc) generate not less than 
$100,000 in revenue. 
‘‘(B) REVOCATION.—If the Secretary of 
Homeland Security determines that the com-
mercial activities of an alien who received a 
StartUp 
visa 
pursuant 
to 
subparagraph 
(A)(i)(II) fail to meet the requirements under 
such subparagraph, the Secretary shall, not 
later than 1 year after the end of the applicable 
2-year period described in such subparagraph— 
‘‘(i) revoke such visa; and 
‘‘(ii) notify the alien that he or she— 
‘‘(I) may voluntarily depart from 
the United States in accordance to 
section 240B; or 
‘‘(II) will be subject to removal 
proceedings under section 240 if the 
alien does not depart from the United 
States not later than 6 months after 
receiving such notification. 
‘‘(C) DEFINITIONS.—In this paragraph: 
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‘‘(i) QUALIFIED SUPER ANGEL INVES-
TOR.—The term ‘qualified super angel in-
vestor’ means an individual who— 
‘‘(I) is an accredited investor (as 
defined in section 230.501(a) of title 
17, Code of Federal Regulations); 
‘‘(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; 
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‘‘(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.’’. 
(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: 
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‘‘(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 
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)— 
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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 
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 
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(5) the types and number of jobs created by 
such immigrant entrepreneurs. 
Æ 
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