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S. 1982 110th Congress Senate

United States Employee Ownership Bank Act

Official title: A bill to provide for the establishment of the United States Employee Ownership Bank, and for other purposes.

Introduced: August 2, 2007 Introduced by: Bernard Sanders Independent · Vermont See on congress.gov
Commerce Cooperative societiesDepartment of the TreasuryEconomics and Public FinanceEmployee ownership
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Executive reorganizationFederally-guaranteed loansFinance and Financial SectorGovernment Operations and PoliticsGovernment lendingIndustrial relationsLabor and Employment
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This bill died when the 110th Congress ended
It never became law before the 110th Congress (2007–2008) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 2, 2007
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Aug 2, 2007
Sponsor introductory remarks on measure. (CR S10821)
Aug 2, 2007
Introduced in Senate
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 Latest action August 2, 2007

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

 Plain-English summary Congressional Research Service

United States Employee Ownership Bank Act - Directs the Secretary of the Treasury to establish the United States Employee Ownership Bank to foster increased employee ownership and greater employee participation in company decisionmaking throughout the United States.

Requires the Bank to make: (1) loans (subordinated to the interests of all other creditors) and loan guarantees to employees to purchase a business through an employee stock ownership plan or eligible worker-owned cooperative; and (2) grants to states and nonprofit and cooperative organizations with experience in developing employee-owned businesses and worker-owned cooperatives to provide education, outreach, and technical assistance to such employee business efforts.

Requires the Bank to insure such loans or loan guarantees against nonrepayment of the outstanding loan balance.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). S. 1982: United States Employee Ownership Bank Act. 110th Congress. Open America. https://openamerica.io/bill/110-S-1982/
MLA
"S. 1982: United States Employee Ownership Bank Act." 110th Congress, 2026, Open America, https://openamerica.io/bill/110-S-1982/.
Bluebook (legal)
S. 1982, 110th Cong. (2026), https://openamerica.io/bill/110-S-1982/.
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[S. 1982: United States Employee Ownership Bank Act](https://openamerica.io/bill/110-S-1982/)
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