SECTION 1. IMMIGRANTS WITH ADVANCED DEGREES.

    (a) Worldwide Level.--Section 201 of the Immigration and 
Nationality Act (8 U.S.C. 1151) is amended--
            (1) in subsection (a)(3), by inserting ``and immigrants 
        with advanced degrees'' after ``diversity immigrants''; and
            (2) by amending subsection (e) to read as follows:
    ``(e) Worldwide Level of Diversity Immigrants and Immigrants With 
Advanced Degrees.--
            ``(1) Diversity immigrants.--The worldwide level of 
        diversity immigrants described in section 203(c)(1) is equal to 
        18,333 for each fiscal year.
            ``(2) Immigrants with advanced degrees.--The worldwide 
        level of immigrants with advanced degrees described in section 
        203(c)(2) is equal to 36,667 for each fiscal year.''.
    (b) Allocation of Immigrant Visas.--Section 203 of the Immigration 
and Nationality Act (8 U.S.C. 1153(c)) is amended--
            (1) in subsection (c)--
                    (A) in paragraph (1), by striking ``paragraph (2), 
                aliens subject to the worldwide level specified in 
                section 201(e)'' and inserting ``paragraphs (2) and 
                (3), aliens subject to the worldwide level specified in 
                section 201(e)(1)'';
                    (B) by redesignating paragraphs (2) and (3) as 
                paragraphs (3) and (4), respectively;
                    (C) by inserting after paragraph (1) the following:
            ``(2) Aliens who hold an advanced degree in science, 
        mathematics, technology, or engineering.--
                    ``(A) In general.--Qualified immigrants who hold a 
                master's or doctorate degree in the life sciences, the 
                physical sciences, mathematics, technology, or 
                engineering shall be allotted visas each fiscal year in 
                a number not to exceed the worldwide level specified in 
                section 201(e)(2).
                    ``(B) Economic considerations.--Beginning on the 
                date which is 1 year after the date of the enactment of 
                this paragraph, the Secretary of State, in consultation 
                with the Secretary of Commerce and the Secretary of 
                Labor, and after notice and public hearing, shall 
                determine which of the degrees described in 
                subparagraph (A) will provide immigrants with the 
                knowledge and skills that are most needed to meet 
                anticipated workforce needs and protect the economic 
                security of the United States.'';
                    (D) in paragraph (3), as redesignated, by striking 
                ``this subsection'' each place it appears and inserting 
                ``paragraph (1)''; and
                    (E) by amending paragraph (4), as redesignated, to 
                read as follows:
            ``(4) Maintenance of information.--
                    ``(A) Diversity immigrants.--The Secretary of State 
                shall maintain information on the age, occupation, 
                education level, and other relevant characteristics of 
                immigrants issued visas under paragraph (1).
                    ``(B) Immigrants with advanced degrees.--The 
                Secretary of State shall maintain information on the 
                age, degree (including field of study), occupation, 
                work experience, and other relevant characteristics of 
                immigrants issued visas under paragraph (2).''; and
            (2) in subsection (e)--
                    (A) in paragraph (2), by striking ``(c)'' and 
                inserting ``(c)(1)'';
                    (B) by redesignating paragraph (3) as paragraph 
                (4); and
                    (C) by inserting after paragraph (2) the following:
    ``(3) Immigrant visas made available under subsection (c)(2) shall 
be issued as follows:
            ``(A) If the Secretary of State has not made a 
        determination under subsection (c)(2)(B), immigrant visas shall 
        be issued in a strictly random order established by the 
        Secretary for the fiscal year involved.
            ``(B) If the Secretary of State has made a determination 
        under subsection (c)(2)(B) and the number of eligible qualified 
        immigrants who have a degree selected under such subsection and 
        apply for an immigrant visa described in subsection (c)(2) is 
        greater than the worldwide level specified in section 
        201(e)(2), the Secretary shall issue immigrant visas only to 
        such immigrants and in a strictly random order established by 
        the Secretary for the fiscal year involved.
            ``(C) If the Secretary of State has made a determination 
        under subsection (c)(2)(B) and the number of eligible qualified 
        immigrants who have degrees selected under such subsection and 
        apply for an immigrant visa described in subsection (c)(2) is 
        not greater than the worldwide level specified in section 
        201(e)(2), the Secretary shall--
                    ``(i) issue immigrant visas to eligible qualified 
                immigrants with degrees selected in subsection 
                (c)(2)(B); and
                    ``(ii) issue any immigrant visas remaining 
                thereafter to other eligible qualified immigrants with 
                degrees described in subsection (c)(2)(A) in a strictly 
                random order established by the Secretary for the 
                fiscal year involved.''.
    (c) Effective Date.--The amendments made by this section shall take 
effect on October 1, 2007.

SEC. 2. CARRYOVER OF ADVANCED DEGREE VISAS AND DIVERSITY VISAS.

    Section 204(a)(1)(I)(ii)(II) of the Immigration and Nationality Act 
(8 U.S.C. 1154(a)(1)(I)(ii)(II)) is amended to read as follows:
    ``(II) An immigrant visa made available under subsection 203(c) for 
fiscal year 2007, or for any subsequent fiscal year, may be issued, or 
adjustment of status under section 245(a) may be granted, to an 
eligible qualified alien who has properly applied for such visa or 
adjustment of status in the fiscal year for which the alien was 
selected notwithstanding the end of such fiscal year. Such visa or 
adjustment of status shall be counted against the worldwide levels set 
forth in section 201(e) for the fiscal year for which the alien was 
selected.''.
Amends the Immigration and Nationality Act to include immigrants with advanced degrees in the diversity immigrant category. Establishes the annual worldwide limit for such immigrants at 18,333 for diversity immigrants and 36,667 for advanced degree immigrants. Provides that immigrants with advanced degrees in science, technology, engineering, or math shall have a separate limitation equal to that for advanced degree immigrants, which shall include economic and workforce considerations.

Directs the Secretary of State to maintain age, education, and occupation information on diversity and advanced degree immigrants.

Provides for the carryover of advanced degree and diversity visas.
A bill to amend title II of the Immigration and Nationality Act to reform the diversity visa program and create a program that awards visas to aliens with an advanced degree.