H.R. 3248 · 119th Congress
American Ownership and Resilience Act
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R
MooreSponsor12 cosponsors · 8 D, 4 R
D
Foster
DJ
R
Johnson
LT
D
Trahan
MB
R
Baumgartner
CH
D
Houlahan
AC
D
Craig
BF
R
Fitzpatrick
EV
D
Vindman
EC
D
Case
SM
D
McBride
JB
D
Bynum
RM
R
Mackenzie3 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
This bill creates an investment facility to support the conversion of private businesses into employee-owned businesses.
What it does: CRS summary · Introduced in House · May 7, 2025
American Ownership and Resilience Act
This bill creates an investment facility to support the conversion of private businesses into employee-owned businesses.
Specifically, the Department of Commerce must establish an investment facility that provides leverage to ownership investment companies (OICs) licensed by Commerce.
Under the bill, OICs
- manage capital for the purpose of financing the sale of a private business to an employee stock ownership plan (ESOP) or eligible worker-owned cooperative,
- have the authority to borrow money and issue securities or other obligations to finance the sale, and
- have the full faith and credit of the United States to guarantee the payment of all such amounts.
In a sale to an ESOP, an independent trustee must be appointed to obtain a fairness opinion on the investment from an independent financial advisor.
New OICs may be mentored by other OICs through the Protégé OIC program established by the bill.
The bill also establishes private capital requirements, third-party debt limitations, and enforcement provisions.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: American Ownership and Resilience Act
Latest action (May 7, 2025): Referred to the Committee on Financial Services, and in addition to the Committee on Ways and Means, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Policy area: Finance and Financial Sector · Origin: House · Introduced: May 7, 2025
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.