H.R. 5893: Startup Act 2.0
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H.R. 5893: Startup Act 2.0
112th Congress · introduced 2012-06-05 · Commerce · Latest: Referred to the Subcommittee on Immigration Policy and Enforcement.
federal
Follow this bill, step by step
- Where it came from: introduced 2012-06-05 · official record
- Who proposed it: Rep. Grimm, Michael G. [R-NY-13] · what a sponsor is
- What happened next: no floor votes in our records yet. Why?
- Where it stands now: Referred to the Subcommittee on Immigration Policy and Enforcement. Not final yet: this can still change. We check for updates every day.
- If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.
Official title
Startup Act 2.0
Plain summary
Startup Act 2.0 - Amends the Immigration and Nationality Act to authorize the Secretary of Homeland Security (DHS) to adjust to conditional permanent resident status up to 50,000 aliens who have earned a master's or doctorate degree in a science, technology, engineering, or mathematics field (STEM field) and permit such an alien to remain in the United States: (1) for up to one year after the expiration of the alien's student visa, if the alien is searching for STEM field employment; and (2) indefinitely if the alien remains actively engaged in a STEM field. Removes a STEM alien's conditional status after five years of maintaining eligibility during the entire five-year period. Authorizes the Secretary to issue conditional immigrant visas to up to 75,000 qualified alien entrepreneurs. Removes such conditional basis after four years of maintaining qualified entrepreneur status. Eliminates the per-country numerical limitation for employment-based visas. Increases the per country numerical limitation for family based immigrants from 7% to 15% of the total number of family-sponsored visas. Amends the Chinese Student Protection Act of 1992 to eliminate the provision requiring the reduction of annual People's Republic of China immigrant visas to offset status adjustments under such Act. Amends the Internal Revenue Code to: (1) provide a permanent full tax exclusion on gain from the sale or exchange of qualified small business stock held for more than five years, (2) repeal the minimum tax preference and the 28% capital gains rate on such stock, and (3) provide a limited tax credit for certain startup small businesses. Directs the Secretary of Commerce to use certain federal agency extramural budget funds to award grants to institutions of higher education for initiatives to improve commercialization and transfer of technology. Requires the head of any federal or independent regulatory agency, before issuing a notice of rulemaking in connection with the issuance of a proposed major rule, to complete a review that, among other things, analyzes the problem that the rule intends to address, and identifies and analyzes the rule's expected impact on state, local, and tribal governments, as well as on the ability of new businesses to form and expand. Requires a cost-benefit analysis before rule issuance. Directs the Secretary of Commerce to regularly compile: (1) information from each of the states and the District of Columbia on laws that affect the formation and growth of new businesses, and (2) quantitative and qualitative information on U.S. businesses that are not more than one year old.
Congressional Research Service summary (Introduced in House), quoted unchanged (nonpartisan). Read the source.
What a vote does
A “Yea” vote
If it passes both chambers and is signed, it becomes law.
A “Nay” vote
If it is not passed, current law stays as it is.
PSI Sci description of the legislative step (not an opinion).
What does this mean? (plain words)
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The strongest published arguments
Arguments for (supporters)
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Arguments against (opponents)
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Alternatives
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How did my representative vote? · This bill's floor votes
Officials and money
Sponsor: Rep. Grimm, Michael G. [R-NY-13] · 23 cosponsors
Cost estimate: No cost estimate published yet.
Cosponsors on this site
Linda T. Sánchez (D-CA), Judy Chu (D-CA), Gus M. Bilirakis (R-FL), Adam Smith (D-WA)
No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.
Words on this page, explained (5)
- Authorization
- A law that creates or continues a government program and says what it may do, often with a suggested spending ceiling. An authorization alone does not provide money; a separate appropriation does.
- Ballot initiative
- A proposed law or constitutional amendment that citizens place on the ballot by gathering enough voter signatures, so voters decide it directly. About half the states allow some form of it.
- Capital gains
- The profit from selling something you own, such as stock or real estate, for more than you paid. A capital gains tax is a tax on that profit.
- Rulemaking
- The process agencies use to write regulations that carry out laws passed by Congress or a legislature. Usually an agency publishes a proposed rule, takes public comments, then publishes a final rule.
- Securities
- Financial investments that can be bought and sold, such as stocks and bonds.
Plain meanings written from linked sources. All words.
Sources
- Congressional Research Service summary (Introduced in House)
- Congress.gov
- Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-112hr5893.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/112/hr>
Record fed-us-cong112-hr5893 · catalog fed-us-congress-bills-cong112 · updated 2026-11-15 by psicol fed-bills-cong112