Bill113th Congress

S. 310

Startup Act 3.0

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Introduced
Feb 13, 2013
Origin Chamber
Senate
Policy Area
Economics and Public Finance
Latest Action
Feb 13, 2013

Sponsor

Sen. Moran, Jerry [R-KS]

Republican·KS
Bioguide ID: M000934
First Name: Jerry
Last Name: Moran
By Request: N
6
Cosponsors
1
Committees
2
Actions
0
Amendments
5
Related Bills
28
Subjects
1
Summaries
3
Titles
1
Text Versions

Bill Details

Update Date
Nov 15, 2022
Origin Chamber
Senate
Bill Type
S
Bill Number
310
Congress
113
Introduced Date
Feb 13, 2013
Policy Area
Economics and Public Finance
Is Law
No
Feb 13, 2013IntroReferral

Read twice and referred to the Committee on Finance.

Source: Senate

Feb 13, 2013IntroReferral10000

Introduced in Senate

Source: Library of Congress

Introduced in Senate· Feb 13, 20130

Startup Act 3.0 - 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 rule making 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.

Finance Committee

Senate· Standing
Administrative law and regulatory proceduresBusiness investment and capitalCapital gains taxCensus and government statisticsCongressional oversightEconomic developmentEconomic performance and conditionsEducation programs fundingEmployment taxesExecutive agency funding and structureForeign laborGovernment information and archivesGovernment trust fundsHigher educationImmigration status and proceduresIncome tax creditsIncome tax exclusionIncome tax ratesResearch administration and fundingResearch and developmentScience and engineering educationSecuritiesSmall businessSocial security and elderly assistanceTeaching, teachers, curriculaTechnology transfer and commercializationUrban and suburban affairs and developmentVisas and passports

Introduced in Senate

Feb 13, 2013

Startup Act 3.0 — Informed