For your interpretation...
ORIGINAL VERSION FROM AC21 - CLINTON PASSED VERSION
(d) RECAPTURE OF UNUSED EMPLOYMENT-BASED IMMIGRANT VISAS-
(1) IN GENERAL- Notwithstanding any other provision of law, the number of employment-based visas (as defined in paragraph (3)) made available for a fiscal year (beginning with fiscal year 2001) shall be increased by the number described in paragraph (2). Visas made available under this subsection shall only be available in a fiscal year to employment-based immigrants under paragraph (1), (2), or (3) of section 203(b) of the Immigration and Nationality Act.
(2) NUMBER AVAILABLE-
(A) IN GENERAL- Subject to subparagraph (B), the number described in this paragraph is the difference between the number of employment-based visas that were made available in fiscal year 1999 and 2000 and the number of such visas that were actually used in such fiscal years.
(B) REDUCTION- The number described in subparagraph (A) shall be reduced, for each fiscal year after fiscal year 2001, by the cumulative number of immigrant visas actually used under paragraph (1) for previous fiscal years.
(C) CONSTRUCTION- Nothing in this paragraph shall be construed as affecting the application of section 201(c)(3)(C) of the Immigration and Nationality Act (8 U.S.C. 1151(c)(3)(C)).
(3) EMPLOYMENT-BASED VISAS DEFINED- For purposes of this subsection, the term `employment-based visa' means an immigrant visa which is issued pursuant to the numerical limitation under section 203(b) of the Immigration and Nationality Act (8 U.S.C. 1153(b)).
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Bill as it would look like if all the amendments as proposed in the Conference agreement becomes a law.
(d) RECAPTURE OF UNUSED EMPLOYMENT-BASED IMMIGRANT VISAS-
(1) IN GENERAL- Notwithstanding any other provision of law, the number of employment-based visas (as defined in paragraph (3)) made available for a fiscal year (beginning with fiscal year 2001) shall be increased by the number described in paragraph (2). Visas made available under this subsection shall only be available in a fiscal year to employment-based immigrants under paragraph (1), (2), or (3) of section 203(b) of the Immigration and Nationality Act and any such visa that is made available due to the difference between the number of employment-based visas that were made available in fiscal year 2001, 2002, 2003, or 2004 and the number of such visas that were actually used in such fiscal year shall be available only to employment-based immigrants (and their family members accompanying or following to join under section 203(d) of such Act (8 U.S.C. 1153(d))) whose immigrant worker petitions were approved based on schedule A, as defined in section 656.5 of title 20, Code of Federal Regulations, as promulgated by the Secretary of Labor''.
(2) NUMBER AVAILABLE-
(A) IN GENERAL- Subject to subparagraph (B), the number described in this paragraph is the difference between the number of employment-based visas that were made available in fiscal year 1999 through 2004 and the number of such visas that were actually used in such fiscal years.
(B) REDUCTION- (B)(i) REDUCTION.--The number described in subparagraph (A) shall be reduced, for each fiscal year after fiscal year 2001, by the cumulative number of immigrant visas actually used under paragraph (1) for previous fiscal years.
(ii) MAXIMUM.--The total number of visas actually used under paragraph (1) may not exceed 50,000
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(C) CONSTRUCTION- Nothing in this paragraph shall be construed as affecting the application of section 201(c)(3)(C) of the Immigration and Nationality Act (8 U.S.C. 1151(c)(3)(C)).
(3) EMPLOYMENT-BASED VISAS DEFINED- For purposes of this subsection, the term `employment-based visa' means an immigrant visa which is issued pursuant to the numerical limitation under section 203(b) of the Immigration and Nationality Act (8 U.S.C. 1153(b)).