After the new H-1B rules were signed into law, many current H-1B employees are trying to find out their impact on them.
The new rules say that TARP (Troubled Asset Relief Program) companies have been given additional restrictions when hiring workers in H-1B visa for 2009, 2010 and in 2011 February.
These are American firms that received bailout money from US Government. So what happens to current H-1B visa holders working for TARP companies?
Additional Question about New Rules
Some of the questions from current employees at TARP companies that were posted include the following:
- Will the new H-1B rules (law) impact green card processing?
- Can TARP companies file for new labor?
- I’m working in OPT in one of the banks receiving bailout money – what will happen to me? Can my firm file for my H-1B visa in April 2009?
- Can banks apply for my H-1B visa extension? Will the new rules affect companies from filing H-1B visa extensions?
A Capital Law Group Immigration Attorney says
The statute is drafted to prohibit any “new hires” between February 17, 2009 and February 16, 2011. A “Hire” is defined as permitting “a new employee to commence a period of employment.”
As a result, it seems that the new H-1B visa restrictions do not apply to H-1B workers who are already employed at the TARP companies.
However, neither the USCIS nor the Department of Labor has issued an implementation guidance nor regulations yet, so it is not completely certain that they will take the same view.
You can read the entire article TARP Stimulus and H-1B here.