Only if the mother was a U.S. citizen would the statute apply. This would secure his Senate seat. He is not eligible for the Presidency.
I think he is calculating when to produce his CRBA. He will use that as a "US birth certificate" (there is no such thing in law, but hey, who cares). The public will be fooled.
The act in force at the time of birth controls. When that doesn’t satisfy political desires resort must be had to acts repealed centuries ago. And when even that is not enough those acts can be carefully mixed with other acts producing a new act, an act never passed by Congress.
Dismembering repealed naturalization acts and carefully selecting phrases from the entrails is not law, it’s voodoo.
The Voodoo Naturalization Act of 2016
Any child born beyond Sea, whose father or mother or both at the time of the birth of such child may or may not have been a citizen of the United States, shall be considered as a natural born citizen of the United States.
By the power vested in Ted Cruz as ruler of his world, and pursuant to the Voodoo Naturalization Act of 2016, Ted Cruz declares himself to be a natural born citizen of the United States.