Revises federal immigration policy. Notably, the bill:
-allows undocumented immigrants to apply for Resident Provisional (RPI) status if they have been in the U.S. since December 31, 2011, have not been convicted of a felony or three or more misdemeanors, pay their assessed taxes, pass background checks, and pay penalty fees, among other requirements;
-permits undocumented agricultural workers to be eligible for an immigrant status known as a "blue card," if they have worked at least 575 hours or 100 work days of agricultural employment during a two-year period ending December 31, 2012;
-initiates a merit-based point system that allows foreign nationals to obtain Legal Permanent Resident (LPR) status by accumulating points mainly based on their skills, employment history, and educational credentials;
-eliminates the current immigrant visa categories for siblings and adult married children of U.S. citizens, as well as the diversity visa program, replacing them with the point system above;
-clears the backlog of visa applicants by allocating visas to applicants with pending applications over the course of seven years starting in 2015, allowing these immigrants to qualify for LPR status by 2021;
-increases civil and criminal penalties for employers that knowingly hire, recruit, refer, or continue to employ an unauthorized immigrant or fail to comply with E-Verify requirements.