S. 1082 · 115th Congress
United States Employee Ownership Bank Act
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Never voted on. It didn't reach a floor vote before the 115th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
I
SandersSponsor4 cosponsors · 4 D
3 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill requires the Department of the Treasury to establish the U.S. Employee Ownership Bank, which shall be authorized to provide, in accordance with specified terms, conditions, and other requirements, financial assistance to increase employee ownership of a company.
What it does: CRS summary · Introduced in Senate · May 10, 2017
United States Employee Ownership Bank Act
This bill requires the Department of the Treasury to establish the U.S. Employee Ownership Bank, which shall be authorized to provide, in accordance with specified terms, conditions, and other requirements, financial assistance to increase employee ownership of a company.
In addition, the bill amends the Worker Adjustment and Retraining Notification Act to specify that, in general, if an employer orders the closing of a plant or facility, the employer must offer its employees an opportunity to purchase the plant or facility though an employee stock-ownership plan or an eligible worker-owned cooperative.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: United States Employee Ownership Bank Act
Latest action (May 10, 2017): Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: May 10, 2017
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.