ESOP Funding for SBA Position Act of 2025

United States119th CongressHR-2993House of Representatives
Updated: Apr 24, 2025

Summary

This bill aims to facilitate the establishment of employee stock ownership plans (ESOPs) by small businesses. It mandates the creation of a new position within the Small Business Administration (SBA) specifically tasked with providing comprehensive assistance to small business concerns regarding ESOPs. This assistance will cover crucial areas such as understanding tax implications, ensuring regulatory compliance, conducting stock valuation, and identifying opportunities for funding to establish these plans. The responsibilities of this new SBA position also include coordinating with both public and private entities to offer tailored resources and working closely with the Department of Labor to ensure compliance with all relevant regulatory requirements. Furthermore, the position will advocate for appropriate guidance from federal agencies concerning ESOP regulations. The bill requires the Administrator to submit annual reports to Congress detailing the position's activities, the number of businesses assisted, and policy recommendations for improving the ESOP establishment process for small businesses. An initial appropriation of $500,000 is authorized for the first fiscal year.

Bill texts

Available versions
Introduced (House)View official text

1 version available

All available records shown.

Timeline

  1. Referred to the House Committee on Small Business.

    House of Representatives

  2. Sponsor introductory remarks on measure. (CR E337)

  3. Introduced in House

All available records shown.