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Old 02-14-2009, 12:27 PM
rs_123 rs_123 is offline
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Originally Posted by Peace007 View Post
Not sure how uptodate this information is.

However, the requirements on an H-1B dependent employer do not apply for “exempt H-1B nonimmigrants” which include (1) those holding a master’s or higher degree or its equivalent in a specialty related to the intended employment, or (2) who earn wages (including cash bonuses and similar compensation) at an annual rate of at least $60,000. This exemption is not likely to cover all, but is likely to cover many of the intended foreign national beneficiaries of H-1B visas from TARP recipient companies.

Finally, the definition of “hire” is drafted in a way that includes only new employment. This should mean that H-1B extensions for H-1B holders already employed at TARP recipient companies should not be subject to the additional requirements

It is still not clear how USCIS will implement/ interpret this law. I guess, we will have to wait till we see a regulation from USCIS. Check this link - exemptions (MS or 60K) are not applicable for TARP companies
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