Immigration - Stimulus Bill Limits Ability of TARP and Federal Reserve Funding Recipients to Employ H-1B Visa Workers

03/12/2009

Section 1611 of the recently-enacted American Recovery and Reinvestment Act of 2009 (the "Stimulus Bill") imposes significant additional requirements on banks and financial institutions that receive funds under the Emergency Economic Stabilization Act of 2008 (commonly referred to as "TARP"), or that receive funds under Section 13 of the Federal Reserve Act (the discount window). The provision does not apply to companies or entities receiving funds under the Stimulus Bill itself. It applies only to banks and financial institutions receiving TARP or Federal Reserve funding.

Companies covered by Section 1611 may not hire an H-1B visa worker unless the company attests that it has complied with additional requirements not applicable to most H-1B employers. First, the company must attest that it has made a good faith effort to recruit U.S. workers for the position and that it has offered the position to any equally or better qualified U.S. applicant. Second, the company must attest that it has not laid off, and will not lay off, any U.S. worker in a similar position in the same metropolitan area within 90 days before or after the filing of the H-1B petition.