S. 1645 · 119th Congress
American Ownership and Resilience Act
Key: what the circles and colors mean
Each circle is a bill. The ring fills as it moves through Congress:
Under the number: the Yea · Nay count of its final (or latest) recorded vote. On a member's page, the small badge is how that member voted: Y Yea / Aye, N Nay / No, P Present, – Not voting.
Gold and violet are only for Yea and Nay; they never mean a party. A member's party is the letter on their photo.
Not yet voted on. This bill is still a proposal: it hasn't reached a floor vote, and its text can change in committee or on the floor before any vote.
D
Van HollenSponsor8 cosponsors · 4 D, 4 R
6 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 Senate · 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): Read twice and referred to the Committee on Finance.
Policy area: Finance and Financial Sector · Origin: Senate · Introduced: May 7, 2025
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.