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Computerworld: Rep. Lamar Smith (R-Texas) is planning to introduce the "STEM Jobs Act of 2012" as early as this Friday, and the House could vote on it as early as next week. The bill would eliminate a lottery program for awarding permanent residency visas and replace it with a program to award visas to up to 55,000 foreign students who have earned masters or doctorate degrees in science, technology, engineering or math (STEM) fields. Before the green cards could be awarded, an employer would have to petition for a an applicant and demonstrate that no American workers were available for the job. The applicant would agree to work for that company for at least five years.
If the House passes the bill, the Senate would need to approve it before it could become law.