Skip to main content
S 1645 119th Congress Senate Finance and Financial Sector

American Ownership and Resilience Act

Introduced: May 7, 2025 Introduced by: Van Hollen, Chris Democratic · Maryland See on congress.gov
Sign in to write a letter Sign in to watch
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 7, 2025
Read twice and referred to the Committee on Finance.
May 7, 2025
Introduced in Senate
 Votes taken on this bill 2
DateChamberWhat was voted onResultYes–No
Sep 22, 1998 Senate · vote #282 On the Cloture Motion S. 1645 Rejected 54–45 See who voted →
Sep 11, 1998 Senate · vote #265 On Cloture on the Motion to Proceed S. 1645 Agreed To 97–0 See who voted →
 Ask about this bill AI · grounded in the bill text

Have a question about what this bill does? Ask in plain English; the answer is drawn from the bill's actual text and official record, and it'll tell you when something isn't in the text rather than guess.

AI answers can be imperfect; always confirm against the full bill text.

 Plain-English summary Congressional Research Service

American Ownership and Resilience Act

This bill creates an investment facility to support the conversion of private businesses into employee-owned businesses.

Specifically, the Department of Commerce must establish an investment facility that provides leverage to ownership investment companies (OICs) licensed by Commerce. 

Under the bill, OICs

  • manage capital for the purpose of financing the sale of a private business to an employee stock ownership plan (ESOP) or eligible worker-owned cooperative, 
  • have the authority to borrow money and issue securities or other obligations to finance the sale, and
  • have the full faith and credit of the United States to guarantee the payment of all such amounts.

In a sale to an ESOP, an independent trustee must be appointed to obtain a fairness opinion on the investment from an independent financial advisor.

New OICs may be mentored by other OICs through the Protégé OIC program established by the bill.

The bill also establishes private capital requirements, third-party debt limitations, and enforcement provisions.

What's happening now May 7, 2025

Read twice and referred to the Committee on Finance.

 Related & companion bills 1
  • HR 3248 Identical bill American Ownership and Resilience Act
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Lobbying activity 5

Registered lobbyists who named this bill in their disclosure filings. Source: federal Lobbying Disclosure Act filings.

 Cosponsors 8
All 8 Democratic 4 Republican 4
R
Blackburn, Marsha
Tennessee · May 21, 2026
 D
Kaine, Tim
Virginia · May 21, 2026
 D
Baldwin, Tammy
Wisconsin · May 7, 2025
 R
Moran, Jerry
Kansas · May 7, 2025
 R
Schmitt, Eric
Missouri · May 7, 2025
 D
Shaheen, Jeanne
New Hampshire · May 7, 2025
 D
Welch, Peter
Vermont · May 7, 2025
 R
Young, Todd
Indiana · May 7, 2025
Cite this page click to expand
APA
U.S. Congress. (2026). S. 1645: American Ownership and Resilience Act. 119th Congress. Open America. https://openamerica.io/bill/119-S-1645/
MLA
"S. 1645: American Ownership and Resilience Act." 119th Congress, 2026, Open America, https://openamerica.io/bill/119-S-1645/.
Bluebook (legal)
S. 1645, 119th Cong. (2026), https://openamerica.io/bill/119-S-1645/.
Markdown link
[S. 1645: American Ownership and Resilience Act](https://openamerica.io/bill/119-S-1645/)
Report a problem