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]
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.
Title
United States Employee Ownership Bank Act
Sponsors
Sen. Bernard Sanders [I-VT] | Sen. Kirsten Gillibrand [D-NY] | Sen. Margaret Hassan [D-NH] | Sen. Jeanne Shaheen [D-NH] |
Sen. Patrick Leahy [D-VT] |
History
Date | Chamber | Action |
---|---|---|
2019-05-23 | Senate | Read 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
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
Finance and financial sector
Government lending and loan guarantees
Labor-management relations
Unemployment
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
Finance and financial sector
Government lending and loan guarantees
Labor-management relations
Unemployment
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/116th-congress/senate-bill/1661/all-info |
Text | https://www.congress.gov/116/bills/s1661/BILLS-116s1661is.pdf |