Skip to main content
HR 2457 109th Congress House Finance and Financial Sector Bank capital Bank examination Bank loans Capital investments Commerce Community development banking Cooperative societies Employee ownership Employment of the disadvantaged Labor and Employment

Employee Ownership Opportunity Act

Introduced: May 18, 2005 Introduced by: Sanders, Bernard Independent · Vermont See on congress.gov
Sign in to write a letter Sign in to watch
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jun 3, 2005
Referred to the Subcommittee on Financial Institutions and Consumer Credit.
May 18, 2005
Referred to the House Committee on Financial Services.
May 18, 2005
Introduced in House
 Plain-English summary Congressional Research Service

Employee Ownership Opportunity Act - Amends the Community Reinvestment Act of 1977 regarding the requirement that, in connection with its examination of a financial institution, the appropriate federal financial supervisory agency assess the institution's record of meeting the credit needs of its entire community.

Requires the agency, in making such assessment, to consider as a factor capital investments, loans, loan participation, technical assistance, and grants by the institution to support or enable employees to establish employee stock ownership plans (ESOPs) or eligible worker owned cooperatives (EWOCs) that are at least 51 percent employee-owned plans or cooperatives and employ low- to moderate-income workers.

What's happening now June 3, 2005

Referred to the Subcommittee on Financial Institutions and Consumer Credit.

 Committees of jurisdiction 2
 Cosponsors 3
All 3 Democratic 3