Sec. 201 H–1B visas
“(vii) 65,000 in fiscal years 2004 through 2013; and”
“(viii) 155,000 in each succeeding fiscal year; or”
“(C) meets the requirements of paragraph (6)(A) or (7)(A) of section 203(b), until the number of aliens who are exempted from such numerical limitation during such year exceeds 40,000.”
“(II) if 80 percent or more of the employer’s workers in the same occupational classification as the alien admitted or provided status as an H-1B nonimmigrant and in the same area of employment as the alien admitted or provided status as an H-1B nonimmigrant are United States workers (as defined in paragraph (4)), is offering and will offer during the period of authorized employment to aliens admitted or provided status as an H-1B nonimmigrant wages that are at least the actual wage level paid by the employer to all other individuals with similar experience and qualifications for the specific employment in question (but, in the case of an employer with more than 25 employees, in no event shall such wages be lower than the mean of the lowest one-half of wages surveyed pursuant to subsection (p)(5)); and”
“(4)
“(A) For purposes of paragraphs (1)(B) and (3)(B), the term “bachelor’s or higher degree” includes a foreign degree that is a recognized foreign equivalent of a bachelor’s or higher degree.
“(B)
“(i) In the case of an alien with a foreign degree, any determination with respect to the equivalence of that degree to a degree obtained in the United States shall be made by the Secretary of State.
“(ii) In carrying out the preceding clause, the Secretary of State shall verify the authenticity of any foreign degree proffered by an alien. The Secretary of State may enter into contracts with public or private entities in conducting such verifications.
“(iii) In addition to any other fees authorized by law, the Secretary of State may impose a fee on an employer filing a petition under subsection (c)(1) initially to grant an alien nonimmigrant status described in section 101(a)(15)(H)(i)(b), if a determination or verification described in clause (i) or (ii) is required with respect to the petition. Fees collected under this clause shall be deposited in the Treasury in accordance with section 286(t).”
“(w) H–1B educational credential verification account—There is established in the general fund of the Treasury a separate account, which shall be known as the “H–1B Educational Credential Verification Account”. Notwithstanding any other provision of law, there shall be deposited as offsetting receipts into the account all fees collected under section 214(i)(4)(B)(iii). Amounts deposited into the account shall remain available to the Secretary of State until expended to carry out section 214(i)(4)(B).”
“(15) The Secretary of Homeland Security may not approve any petition under paragraph (1) filed by an employer with respect to an alien seeking to obtain the status of a nonimmigrant under subclause (b) or (b1) of section 101(a)(15)(H)(i) and the Secretary of State may not approve a visa with respect to an alien seeking to obtain the status of a nonimmigrant under subparagraph (E)(iii) or (H)(i)(b1) of section 101(a)(15) unless—
“(A) the employer—
“(i) is an institution of higher education (as defined in section 101(a) of the Higher Education Act of 1965 (20 U.S.C. 1001(a))), or a governmental or nonprofit entity; or
“(ii) maintains a place of business in the United States that is licensed in accordance with any applicable State or local business licensing requirements and is used exclusively for business purposes; and
“(B) the employer—
“(i) is a governmental entity;
“(ii) has aggregate gross assets with a value of not less than $50,000—
“(I) in the case of an employer that is a publicly held corporation, as determined using its most recent report filed with the Securities and Exchange Commission; or
“(II) in the case of any other employer, as determined as of the date on which the petition is filed under regulations promulgated by the Secretary of Homeland Security; or
“(iii) provides appropriate documentation of business activity under regulations promulgated by the Secretary of Homeland Security.”
“(J) The Secretary of Labor is authorized to issue subpoenas as may be necessary to assure employer compliance with the terms and conditions of this subsection.”
“(G) The Secretary of Labor is authorized to issue subpoenas as may be necessary to assure employer compliance with the terms and conditions of this subsection.”
“(12) Notwithstanding any other provision of this Act, any alien admitted or provided status as a nonimmigrant in order to provide services in a specialty occupation described in paragraph (1) or (3) of subsection (i) (other than services described in subparagraph (H)(ii)(a), (O), or (P) of section 101(a)(15)) or as a fashion model shall have been issued a visa (or otherwise been provided nonimmigrant status) under subclause (b) or (b1) of section 101(a)(15)(H)(i) or section 101(a)(15)(E)(iii).”