USA Today has obtained a draft copy of the White House's immigration bill, which the administration is reportedly circulating among federal agencies. The proposal would give illegal immigrants a chance to receive a new "Lawful Prospective Immigrant" visa and then apply for legal permanent residence — e.g. a green card — within eight years if they learn English and pay back taxes. Here are more details from USA Today:

(Marvin Joseph-Washington Post) (Marvin Joseph-Washington Post)

According to the White House draft, [illegal immigrants] would need to pass a criminal background check, submit biometric information and pay fees to qualify for the new visa. If approved, they would be allowed to legally reside in the U.S. for four years, work and leave the country for short periods of time. After the four years, they could then reapply for an extension...

The bill calls for an unspecified increase in the Border Patrol, allows the Department of Homeland Security to expand technological improvements along the border and adds 140 new immigration judges to process the heavy flow of people who violate immigration laws...The draft also expands the E-Verify program that checks the immigration status of people seeking new jobs.

The draft, however, doesn't address the future immigrants to the country and how the current legal immigration system would be reformed, USA Today points out.