Directs the Secretary of Homeland Security (DHS) to adjust the status of an eligible alien entrepreneur, alien spouse, or alien child to that of an alien lawfully admitted for permanent residency if the alien: (1) applies for such adjustment; (2) is present in the United States on the date of the application's filing; (3) is admissible as an immigrant; and (4) pays the appropriate fee.
Requires that an eligible alien: (1) became a conditional resident as an alien entrepreneur, alien spouse, or alien child on or before December 31, 1998; (2) applied to remove his or her conditional resident status (I-829 form) on or before December 31, 2000; and (3) had such form or a motion to reopen or reconsider the denial of such form pending before DHS as of the date of the enactment of this Act.
Authorizes the Secretary to waive grounds of inadmissibility (other than criminal or security grounds) with regard to such aliens for humanitarian, family unity, or public interest purposes.