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S. 1661 116th 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: May 23, 2019 Introduced by: Bernard Sanders Independent · Vermont See on congress.gov
Finance and Financial Sector Bank accounts, deposits, capitalBanking and financial institutions regulationCorporate finance and managementDepartment of the Treasury
More subjectsShow fewer subjects
Employee benefits and pensionsEmployment discrimination and employee rightsExecutive agency funding and structureGovernment lending and loan guaranteesLabor-management relationsUnemployment
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This bill died when the 116th Congress ended
It never became law before the 116th Congress (2019–2020) 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 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 23, 2019
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
May 23, 2019
Introduced in Senate
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 Latest action May 23, 2019

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

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.

 Related & companion bills 1
  • HR 2983 Identical bill United States Employee Ownership Bank Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 3
All 3 Democratic 3
D
Gillibrand, Kirsten E.
New York · May 23, 2019
 D
Hassan, Margaret Wood
New Hampshire · May 23, 2019
 D
Shaheen, Jeanne
New Hampshire · May 23, 2019
Cite this page click to expand
APA
U.S. Congress. (2026). S. 1661: United States Employee Ownership Bank Act. 116th Congress. Open America. https://openamerica.io/bill/116-S-1661/
MLA
"S. 1661: United States Employee Ownership Bank Act." 116th Congress, 2026, Open America, https://openamerica.io/bill/116-S-1661/.
Bluebook (legal)
S. 1661, 116th Cong. (2026), https://openamerica.io/bill/116-S-1661/.
Markdown link
[S. 1661: United States Employee Ownership Bank Act](https://openamerica.io/bill/116-S-1661/)
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