A bill to amend the Immigration and Nationality Act.

[AI summary unavailable — showing source text] Amends the Immigration and Nationality Act to exclude an alien from having his status adjusted to that of a permanent resident if such alien is: (1) a student; (2) of distinguished merit; or (3) an alien who seeks to enter the United States temporarily to render services to an employer or an affiliate thereof by which the alien was continuously employed for at least one year prior to his application. Amends the definition of an alien who has been employed continuously for one year prior to his application by a firm. States that the number of visas for temporary employees approved for any one petitioner shall not exceed five percent of the number of managerial or executive personnel employed by the petitioner at any given time.…