United States Employee Ownership Bank Act

United States116th CongressS-1661Senate
Updated: May 23, 2019

Summary

United States Employee Ownership Bank Act This bill requires the Department of the Treasury to establish the U.S. Employee Ownership Bank, which must provide, in accordance with specified terms, conditions, and other requirements, financial assistance to increase employee ownership of a company. The bill specifies 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 through an employee stock-ownership plan or an eligible worker-owned cooperative.

Bill texts

Available versions
Introduced (Senate)View official text

1 version available

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Timeline

Latest companion bill action

HR-2983: United States Employee Ownership Bank Act

Introduced in House

  1. Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.

    Senate

  2. Introduced in Senate

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