LIKE Act
Bill: H.R.4681 | Sponsor: Rep. Lofgren, Zoe (D-CA)
Policy area: Immigration

Summary:
Let Immigrants Kickstart Employment Act of 2021 or the LIKE Act
This bill establishes a new class of nonimmigrant visa (W visa) for qualifying start-up owners and essential employees (and the accompanying spouse or child of such aliens) and addresses related issues.
Under this bill, a start-up is a U.S. entity that has lawfully conducted business and was formed in the five years preceding an application for a start-up owner visa.
To be eligible for an initial visa as a start-up owner, an individual must (1) possess at least a 10% interest in the start-up; (2) play a central and active role in the start-up's management or operations; (3) possess knowledge, skills, or experience to substantially assist in the start-up's growth and success; and (4) provide evidence that the start-up has received certain investments, created jobs, or generated revenue.
The holder of a nonimmigrant start-up owner visa may receive lawful permanent resident status upon meeting certain requirements, including by establishing that the start-up has created a certain number of jobs and has met certain revenue targets.
To be eligible for a visa as an essential employee of a start-up, an individual must (1) have an offer of employment in an executive or managerial capacity at a start-up; and (2) possess knowledge, skills, or experience to substantially assist in the start-up's growth and success.
The bill limits the number of employees on essential employee visas that a start-up may have.

To amend the Immigration and Nationality Act to establish a new class 
    of nonimmigrant visas for entrepreneurs and essential employees 
       affiliated with start-up entities, and for other purposes.

    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 ``Let Immigrants Kickstart Employment 
Act of 2021'' or the ``LIKE Act''.

SEC. 2. W VISAS.

    Section 101(a)(15) of the Immigration and Nationality Act (8 U.S.C. 
1101(a)(15)) is amended--
            (1) in subparagraph (U)(iii), by striking ``or'' at the 
        end;
            (2) in subparagraph (V)(ii)(II), by striking the period at 
        the end and inserting ``; or''; and
            (3) by adding at the end the following:
                    ``(W) Start-up entities.--
                            ``(i) Entrepreneurs.--Subject to section 
                        218A(a), an alien who is an entrepreneur with 
                        an ownership interest in a start-up entity.
                            ``(ii) Employees.--Subject to section 
                        218A(b), an alien who is or will be an 
                        essential employee of a start-up entity.
                            ``(iii) Derivatives.--Subject to section 
                        218A(c), the spouse or child of an alien 
                        described in clause (i) or (ii) who is 
                        accompanying, or following to join, the 
                        alien.''.

SEC. 3. START-UP ENTITIES; NONIMMIGRANT ENTREPRENEURS AND EMPLOYEES.

    Chapter 2 of title II of the Immigration and Nationality Act (8 
U.S.C. 1181 et seq.) is amended by adding after section 218 the 
following:

``SEC. 218A. START-UP ENTITIES; ADMISSION OF NONIMMIGRANT ENTREPRENEURS 
              AND EMPLOYEES.

    ``(a) Nonimmigrant Entrepreneurs.--
            ``(1) In general.--The Secretary shall establish procedures 
        for an alien to self-petition for classification as a 
        nonimmigrant under section 101(a)(15)(W)(i). Status under such 
        section shall be valid for an initial period of 3 years and may 
        be extended thereafter in accordance with this subsection. The 
        Secretary may approve the petition of an alien for initial 
        classification as such a nonimmigrant if the Secretary 
        determines--
                    ``(A) the alien possesses an ownership interest in 
                a start-up entity of not less than 10 percent;
                    ``(B) the alien will play a central and active role 
                in the management or operations of the start-up entity;
                    ``(C) the alien possesses the knowledge, skills, or 
                experience to substantially assist the start-up entity 
                with the growth and success of its business; and
                    ``(D) subject to paragraph (4), the start-up 
                entity, during the 18-month period preceding the filing 
                of the petition, received--
                            ``(i) at least $250,000 in qualifying 
                        investments from one or more qualified 
                        investors; or
                            ``(ii) at least $100,000 in qualifying 
                        government awards or grants.
            ``(2) 3-year extension eligibility criteria.--The Secretary 
        may approve a petition to extend the status of an alien as a 
        nonimmigrant under section 101(a)(15)(W)(i) for an additional 
        3-year period, if the Secretary determines--
                    ``(A) the alien--
                            ``(i) possesses an ownership interest of 
                        not less than 5 percent in the start-up entity 
                        that formed the basis for the alien's initial 
                        petition for classification as a nonimmigrant 
                        under section 101(a)(15)(W)(i); and
                            ``(ii) will continue to play a central and 
                        active role in the management or operations of 
                        the start-up entity; and
                    ``(B) subject to paragraph (4), during the alien's 
                initial period of status as a nonimmigrant under 
                section 101(a)(15)(W)(i), the start-up entity--
                            ``(i) received at least $500,000 in 
                        additional qualifying investments from one or 
                        more qualified investors, qualifying government 
                        awards or grants, or a combination of such 
                        funding;
                            ``(ii) created at least 5 qualified jobs; 
                        or
                            ``(iii) generated not less than $500,000 in 
                        annual revenue in the United States and 
                        averaged 20 percent in annual revenue growth.
            ``(3) Additional extensions in 1-year increments.--With 
        respect to an alien whose status as a nonimmigrant under 
        section 101(a)(15)(W)(i) was extended under paragraph (2), the 
        Secretary may approve a petition to further extend such status 
        in 1-year increments, for up to 2 years, if the Secretary 
        determines--
                    ``(A) the alien--
                            ``(i) possesses an ownership interest in 
                        the start-up entity that formed the basis for 
                        the alien's initial petition for classification 
                        as a nonimmigrant under section 
                        101(a)(15)(W)(i); and
                            ``(ii) will continue to play a central and 
                        active role in the management or operations of 
                        the start-up entity; and
                    ``(B) the start-up entity has made substantial 
                progress in satisfying the requirements under 
                paragraphs (2) and (3) of section 218B(c) and is 
                reasonably expected to satisfy such requirements within 
                the 1 year period following the expiration of the 
                alien's status as a nonimmigrant under section 
                101(a)(15)(W)(i).
            ``(4) Other comparable evidence.--The Secretary may grant a 
        petition to classify an alien as a nonimmigrant under section 
        101(a)(15)(W)(i) if the start-up entity partially meets one or 
        more of the criteria described in paragraphs (1)(D) or (2)(B) 
        and the Secretary determines, based on other reliable and 
        compelling evidence, that the start-up entity has substantial 
        potential for rapid growth and job creation.
            ``(5) Reporting of material changes.--
                    ``(A) In general.--An alien with status under 
                section 101(a)(15)(W)(i) shall immediately notify the 
                Secretary in writing, in accordance with procedures 
                established by the Secretary, if he or she will no 
                longer play a central and active role in the management 
                or operations of the start-up entity or ceases to 
                possess a qualifying ownership interest in the start-up 
                entity.
                    ``(B) Qualifying ownership interest.--For purposes 
                of subparagraph (A), the alien will cease to possess a 
                qualifying ownership interest in the start-up entity 
                if--
                            ``(i) during the initial 3-year period of 
                        status described under paragraph (1), the 
                        alien's ownership interest falls below 5 
                        percent; or
                            ``(ii) during the periods of status 
                        described under paragraphs (2) or (3), the 
                        alien ceases to maintain any ownership 
                        interest.
            ``(6) Clarification.--With respect to an alien who 
        establishes a qualifying ownership interest in a start-up 
        entity and is otherwise eligible for status under section 
        101(a)(15)(W)(i) based on such ownership, the Secretary shall 
        grant the alien such status in accordance with this subsection 
        notwithstanding any time previously spent in such status with a 
        different start-up entity.
    ``(b) Nonimmigrant Essential Employees.--
            ``(1) In general.--The Secretary shall establish procedures 
        for a start-up entity that serves as the basis for an approved 
        petition under subsection (a) to file a petition to classify an 
        alien as a nonimmigrant under section 101(a)(15)(W)(ii). Status 
        under such section shall be valid for an initial period of 3 
        years and may be extended thereafter in accordance with 
        paragraph (3). The Secretary may approve the petition of an 
        alien for initial classification as such a nonimmigrant if the 
        Secretary determines the alien--
                    ``(A) has an offer from the start-up entity for 
                employment in an executive capacity or managerial 
                capacity; and
                    ``(B) possesses knowledge, skills, or experience 
                that are essential to the growth and success of the 
                start-up entity.
            ``(2) Numerical limitations.--The number of aliens with 
        status under section 101(a)(15)(W)(ii) that may be employed by 
        a start-up entity at any one time may not exceed--
                    ``(A) 2 such aliens if such entity has 10 or fewer 
                full-time employees in the United States;
                    ``(B) 3 such aliens if such entity has at least 11 
                and not more than 30 full-time employees in the United 
                States;
                    ``(C) 4 such aliens if such entity has at least 31 
                and not more than 70 full-time employees in the United 
                States; and
                    ``(D) 5 such aliens if such entity has more than 70 
                full-time employees in the United States.
            ``(3) 3-year extension.--The Secretary may approve a 
        petition to extend the status of an alien as a nonimmigrant 
        under section 101(a)(15)(W)(ii) for an additional 3-year 
        period, if the Secretary determines the alien continues to meet 
        the criteria for initial classification as such a nonimmigrant 
        described in paragraph (1).
            ``(4) Termination of eligibility to petition for w-2 
        nonimmigrants.--A start-up entity's eligibility to submit new 
        petitions for aliens under paragraph (1) shall terminate on the 
        date the start-up entity no longer serves as the basis for 
        status of nonimmigrants under section 101(a)(15)(W)(i).
    ``(c) Spouses and Children.--
            ``(1) In general.--The spouse and children accompanying or 
        following to join an alien with status as a nonimmigrant under 
        clause (i) or (ii) of section 101(a)(15)(W) shall be entitled 
        to classification as nonimmigrants under clause (iii) of such 
        section.
            ``(2) Employment authorization.--In the case of an alien 
        spouse with status as a nonimmigrant under section 
        101(a)(15)(W)(iii), the Secretary shall authorize such spouse 
        to engage in employment in the United States and provide the 
        spouse with an `employment authorized' endorsement or other 
        appropriate work permit.
    ``(d) Termination of Nonimmigrant Status.--
            ``(1) In general.--The Secretary shall provide written 
        notice of the Secretary's intent to terminate status under 
        clause (i) or (ii) of section 101(a)(15)(W) if the Secretary 
        has reasonable grounds to believe that--
                    ``(A) the facts or information contained in the 
                petition for such status were not true and accurate;
                    ``(B) the alien failed to timely file or otherwise 
                comply with the material change reporting requirement 
                in subsection (a)(5), if applicable; or
                    ``(C) the petition was erroneously granted.
            ``(2) Notice and decision.--A notice of intent to terminate 
        issued under paragraph (1) shall identify the grounds for 
        termination and provide at least 60 days for the alien to 
        submit rebuttal evidence.
    ``(e) Grace Period.--An alien admitted or otherwise provided status 
under section 101(a)(15)(W) shall be considered to be maintaining such 
status for a period of not less than 60 days upon expiration or 
termination of such status.
    ``(f) Dual Intent.--Notwithstanding section 214(b), an alien may 
obtain a visa or be granted status under section 101(a)(15)(W) even if 
such alien intends to seek lawful permanent resident status in the 
United States.
    ``(g) Definitions.--In this section:
            ``(1) Executive capacity.--The term `executive capacity' 
        has the meaning given such term in section 101(a)(44)(B).
            ``(2) Full-time employee.--The term `full-time employee' 
        means an individual performing services in a position that 
        requires a minimum of 35 working hours per week, and does not 
        include independent contractors or combinations of part-time 
        employees.
            ``(3) Managerial capacity.--The term `managerial capacity' 
        has the meaning given such term in section 101(a)(44)(A).
            ``(4) Qualified investor.--
                    ``(A) In general.--Except as provided in 
                subparagraph (B) and consistent with subparagraph (C), 
                the term `qualified investor' means--
                            ``(i) an individual who is a United States 
                        citizen or lawful permanent resident of the 
                        United States; or
                            ``(ii) an organization that is located in 
                        the United States and operates through a legal 
                        entity that has its principal place of business 
                        in the United States, that is majority owned 
                        and controlled by United States citizens or 
                        lawful permanent residents of the United 
                        States,
                which individual or organization regularly makes 
                substantial investments in start-up entities that 
                subsequently exhibit substantial growth in revenue 
                generation or job creation.
                    ``(B) Exceptions.--The term `qualified investor' 
                does not include an individual or organization that has 
                been--
                            ``(i) permanently or temporarily enjoined 
                        from participating in the offer or sale of a 
                        security or in the provision of services as an 
                        investment adviser, broker, dealer, municipal 
                        securities dealer, government securities 
                        broker, government securities dealer, bank, 
                        transfer agent or credit rating agency;
                            ``(ii) barred from association with any 
                        entity involved in the offer or sale of 
                        securities or the provision of such services; 
                        or
                            ``(iii) otherwise found to have 
                        participated in the offer or sale of securities 
                        or the provision of such services in violation 
                        of law.
                    ``(C) Substantial investment history.--An 
                individual or organization shall be considered to 
                regularly make substantial investments in start-up 
                entities that subsequently exhibit substantial growth 
                in revenue generation or job creation if--
                            ``(i) during the preceding 5 years, the 
                        individual or organization invested a total of 
                        not less than $600,000 in start-up entities in 
                        exchange for equity, convertible debt, or other 
                        security convertible into equity commonly used 
                        in financing transactions within their 
                        respective industries; and
                            ``(ii) subsequent to such investment, at 
                        least 2 such entities each created at least 5 
                        qualified jobs or generated at least $500,000 
                        in revenue with average annualized revenue 
                        growth of at least 20 percent.
            ``(5) Qualified job.--The term `qualified job' means a job 
        located in the United States that requires a minimum of 35 
        working hours per week that has been filled for at least 1 year 
        by one or more qualifying employees.
            ``(6) Qualifying employee.--The term `qualifying employee' 
        means a United States citizen, a lawful permanent resident, or 
        other immigrant lawfully authorized to be employed in the 
        United States. Such term does not include independent 
        contractors, nonimmigrant entrepreneurs or essential start-up 
        employees of the start-up entity, or the parents, spouses, 
        brothers, sisters, sons, or daughters of such nonimmigrant 
        entrepreneurs.
            ``(7) Qualifying government award or grant.--The term 
        `qualifying government award or grant' means an award or grant 
        for economic development, research and development, or job 
        creation (or other similar monetary award typically given to 
        start-up entities) made by a Federal, State, or local 
        government entity (not including foreign government entities) 
        that regularly provides such awards or grants to start-up 
        entities. The term does not include any contractual commitment 
        for goods or services.
            ``(8) Qualifying investment.--
                    ``(A) In general.--The term `qualifying investment' 
                means an investment of lawfully derived capital made in 
                good faith in a start-up entity that is a purchase from 
                such entity of its equity, convertible debt, or other 
                security convertible into its equity that is or becomes 
                commonly used in financing transactions within such 
                entity's industry.
                    ``(B) Exclusions.--The term `qualifying investment' 
                does not include a direct or indirect investment from 
                the entrepreneur, the parents, spouse, brother, sister, 
                son, or daughter of such entrepreneur, or any 
                corporation, limited liability company, partnership, or 
                other entity in which such entrepreneur or the parents, 
                spouse, brother, sister, son, or daughter of such 
                entrepreneur has any direct or indirect ownership 
                interest.
            ``(9) Secretary.--The term `Secretary' means the Secretary 
        of Homeland Security.
            ``(10) Start-up entity.--The term `start-up entity' means a 
        United States business entity that has lawfully conducted 
        business during any period of operation since its formation, 
        and that was formed within the 5-year period immediately 
        preceding the date the alien files a petition for 
        classification under section 101(a)(15)(W)(i).
            ``(11) United states business entity.--The term `United 
        States business entity' means any corporation, limited 
        liability company, partnership, or other entity that is 
        organized under Federal law or the laws of any State, and that 
        conducts business in the United States, that is not an 
        investment vehicle primarily engaged in the offer, purchase, 
        sale or trading of securities, futures contracts, derivatives 
        or similar instruments.

``SEC. 218B. ADMISSION OF IMMIGRANT ENTREPRENEURS.

    ``(a) In General.--The Secretary shall establish procedures for an 
alien who is eligible under subsection (c) to self-petition for 
classification as an immigrant entrepreneur.
    ``(b) Exclusion From Numerical Limitations.--An alien classified as 
an immigrant entrepreneur under this section, and the spouse and 
children of such alien, shall be immediately eligible for immigrant 
visas and such visas shall not be subject to or counted against the 
numerical limitations under section 201, 202, or 203.
    ``(c) Eligibility Criteria.--The Secretary may approve a petition 
filed by an alien for classification as an immigrant entrepreneur under 
this section if the Secretary determines--
            ``(1) the alien--
                    ``(A) is present in the United States and has 
                maintained status as a nonimmigrant under section 
                101(a)(15)(W)(i) or other nonimmigrant status that 
                forms the basis for employment with a start-up entity 
                (as such term is defined in section 218A(g)(10));
                    ``(B) has maintained an ownership interest in the 
                start-up entity since its formation; and
                    ``(C) plays an active and central role in the 
                management or operations of the start-up entity;
            ``(2) the start-up entity has created at least 10 qualified 
        jobs (as such term is defined in section 218A); and
            ``(3) the start-up entity has--
                    ``(A) raised not less than a total of $1,250,000 in 
                qualifying investments, qualifying government grants or 
                awards, or a combination of such funding; or
                    ``(B) generated not less than $1,000,000 in annual 
                revenue in the United States in the 2-year period 
                preceding the filing of the petition.
    ``(d) Immigrant Visa Processing or Adjustment of Status.--An alien 
classified as an immigrant entrepreneur under this section, and the 
spouse and children of such alien, may apply for an immigrant visa in 
accordance with the procedures described in section 221 or for 
adjustment of status under section 245 if such individuals are 
otherwise eligible for adjustment of status.

``SEC. 218C. INFLATION ADJUSTMENT; FEES.

    ``(a) Inflation Adjustment.--The Secretary may adjust the monetary 
amounts described in paragraphs (1)(D) and (2)(B) of section 218A(a) 
and section 218B(c)(3) on a biennial basis by the percentage (if any) 
by which the Consumer Price Index for All Urban Consumers for the month 
of June preceding the date on which such adjustment takes effect 
exceeds the Consumer Price Index for All Urban Consumers for the same 
month of the second preceding calendar year. Any such increase shall 
apply to aliens filing petitions on or after the date on which the 
increase takes effect.
    ``(b) Fees.--
            ``(1) In general.--The Secretary may require an alien 
        petitioning or applying for any benefit under section 218A or 
        218B to pay a reasonable fee that is commensurate with the cost 
        of processing the petition or application.
            ``(2) Supplemental fee for stem scholarships.--In addition 
        to any required processing fee, the Secretary shall collect a 
        $1,000 fee in connection with each petition for classification 
        as a nonimmigrant under section 101(a)(15)(W)(i) or as an 
        immigrant under section 219B. Such funds shall be made 
        available to programs described in section 286(s)(3).
            ``(3) Premium processing.--Subject to any reasonable 
        conditions, the Secretary shall establish premium processing 
        procedures for petitions or applications filed under sections 
        218A and 218B in accordance with section 286(u) and the 
        Emergency Stopgap USCIS Stabilization Act (Public Law No. 116-
        159, Div. D, Title I).''.

SEC. 4. RULEMAKING.

    (a) In General.--Not later than 180 days after the date of the 
enactment of this Act, the Secretary, in consultation with the 
Secretary of State and the Secretary of Commerce, shall publish in the 
Federal Register, an interim final rule implementing the provisions of 
this Act. Notwithstanding section 553 of title 5, United States Code, 
the rule shall be effective, on an interim basis, immediately upon 
publication, but may be subject to change and revision after public 
notice and opportunity for comment. The Secretary shall finalize such 
rule not later than 1 year after the date of the enactment of this Act.
    (b) Designated Qualified Investors.--The rules described in 
subsection (a) shall include--
            (1) procedures for individuals and organizations to request 
        designation as qualified investors (as such term is defined in 
        section 218A(g) of the Immigration and Nationality Act); and
            (2) streamlined filing procedures for petitions to classify 
        an alien as an nonimmigrant under section 101(A)(15)(W)(i) of 
        the Immigration and Nationality Act (8 U.S.C. 
        1101(a)(15)(W)(i)) or as an immigrant under section 218B of 
        such Act based on such alien founding a start-up entity that 
        has received investment capital from one or more qualified 
        investors that have been designated as such pursuant to the 
        procedures described in paragraph (1).
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