US SB1661 | 2019-2020 | 116th Congress

Status

Spectrum: Moderate Partisan Bill (Democrat 4-1)
Status: Introduced on May 23 2019 - 25% progression, died in committee
Action: 2019-05-23 - Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Pending: Senate Banking, Housing, And Urban Affairs Committee
Text: Latest bill text (Introduced) [PDF]

Summary

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.

Tracking Information

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Title

United States Employee Ownership Bank Act

Sponsors


History

DateChamberAction
2019-05-23SenateRead twice and referred to the Committee on Banking, Housing, and Urban Affairs.

Same As/Similar To

HB2983 (Same As) 2019-05-23 - Referred to the Committee on Financial Services, and in addition to the Committee on Education and Labor, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Subjects


US Congress State Sources


Bill Comments

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