To amend the Immigration and Nationality Act to provide status in each of fiscal years 2000 through 2002 for 65,000 H-1B nonimmigrants who have a master's or Ph. D. degree and meet the requirements for such status and whose employers make scholarhip payments to institutions of higher education for undergraduate and postgraduate education.

Amends the Immigration and Nationality Act to authorize the Attorney General to provide (H1-B visa) nonimmigrant status for a specified number of aliens during FY 2000 through 2002 with a master's or PhD degree whose employers make qualified scholarship payments to institutions of higher education for undergraduate and postgraduate study. (Gives scholarship priority to citizens and permanent resident aliens.)