S 1661
116th Congress
Senate
Finance and Financial Sector
Bank accounts, deposits, capital
Banking and financial institutions regulation
Corporate finance and management
Department of the Treasury
Employee benefits and pensions
Employment discrimination and employee rights
Executive agency funding and structure
Government lending and loan guarantees
Labor-management relations
Unemployment
United States Employee Ownership Bank Act
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
Plain-English 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.
What's happening now
Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Committees of jurisdiction
1