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Section 1102 of the Legal Immigration Family Equity (LIFE) Act of 2000 amends the Immigration and Nationality Act to create a new V nonimmigrant classification for the spouses and children of lawful permanent residents, awaiting the availability of an immigrant visa number in the appropriate preference category, in accordance with the monthly Visa Bulletin of the Department of State (DOS). Eligible spouses and children of lawful permanent residents residing abroad who obtain the V nonimmigrant visa from DOS may work and reside in the United States on the basis of the V nonimmigrant classification until they can apply for adjustment of status to that of lawful permanent resident. Certain eligible spouses and children of lawful permanent residents already present in the United States may be granted the V classification until they can apply to adjust status to that of lawful permanent resident.