Visitor Information and Security Accountability (VISA) Act

Visitor Information and Security Accountability (VISA) Act - Directs the Secretary of Homeland Security to: (1) establish an executive body to advise and direct the US-VISIT program; and (2) require the US-VISIT program Director to expeditiously establish an effective program management capability.

Amends the Immigration and Nationality Act to prohibit, with discretionary waiver, use of an insecure document by an alien for: (1) U.S. entry or departure; or (2) identification purposes by public or private conveyance in interstate commerce. (Defines insecure document as a driver's license, identification card, or other document issued by a State or subdivision, or a foreign consular representative in the United States, that may be issued to an alien who has overstayed his or her visa, or is present in the United States without being admitted or paroled.)

Requires in-person consular interviews with all visa applicants.

Requires a Customs and Border Protection Agency FY 2003 and 2004 staffing report by a specified date.

Provides specified funding for the (border) air program.

Amends Federal law to authorize border use of the Army and Air Force.

Amends the Act: (1) to increase alien smuggling penalties; (2) to provide the Secretary with administrative authority to remove aliens on security or terrorist grounds; and (3) with respect to release of aliens in removal proceedings, and detention of aliens delivered by bondsmen.

Requires foreign student (F-1 visa), business (B-1 visa), and tourist (B-2 visa) nonimmigrant aliens from countries with the highest overstay rates to post a maintenance of status/departure bond (as provided for by this Act) with a guaranteeing bonding agent or surety before such visas may be issued. Provides that: (1) the bond shall be returned in full to a complying alien upon return to his or her home country; (2) a bonding agent or surety shall be responsible for surrendering a non-complying alien to the Department of Homeland Security, or pay a penalty.

Sets forth bond renewal provisions for such aliens seeking adjustment of status.

Requires aliens arrested and detained pending a removal decision to post a delivery bond (guaranteeing delivery of an alien against whom the Department has issued an order to show cause or a notice to appear) of at least $10,000 in order to be released from custody, unless an immigration judge orders such alien's release on his or her own recognizance. Provides that a bonding agent or surety shall be responsible for surrendering a non-complying alien to the Department, or pay a penalty.