employee owned business
WashingtonWatch.com - S. 1982, The United States Employee Ownership Bank Act
- Revision by webmaster (December 28, 2007, 01:00:00)
S. 1982 would provide for the establishment of the United States Employee Ownership Bank.
Detailed Summary
United States Employee Ownership Bank Act - Directs the Secretary of the Treasury to establish the United States Employee Ownership Bank to foster increased employee ownership and greater employee participation in company decisionmaking throughout the United States.
Requires the Bank to make: (1) loans (subordinated to the interests of all other creditors) and loan guarantees to employees to purchase a business through an employee stock ownership plan or eligible worker-owned cooperative; and (2) grants to states and nonprofit and cooperative organizations with experience in developing employee-owned businesses and worker-owned cooperatives to provide education, outreach, and technical assistance to such employee business efforts.
Requires the Bank to insure such loans or loan guarantees against nonrepayment of the outstanding loan balance.
Status of the Legislation
Latest Major Action: 8/2/2007: Referred to Senate committee. Status: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Points in Favor
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Points Against
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- Revision by webmaster (August 3, 2007, 01:00:00)
S. 1982 would provide for the establishment of the United States Employee Ownership Bank.
Detailed Summary
(Log in to edit the wiki and be the first to provide a detailed summary of the bill!)
Status of the Legislation
(Log in to edit the wiki and be the first to update the status of the bill!)
Points in Favor
(Log in to edit the wiki and be the first to show why the bill should pass!)
Points Against
(Log in to edit the wiki and be the first to show why the bill should not pass!)
- Revision by webmaster (August 3, 2007, 01:00:00)
S. 1982 would provide for the establishment of the United States Employee Ownership Bank.
Detailed Summary
(Log in to edit the wiki and be the first to provide a detailed summary of the bill!)
Status of the Legislation
Latest Major Action: 8/2/2007: Referred to Senate committee. Status: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Points in Favor
(Log in to edit the wiki and be the first to show why the bill should pass!)
Points Against
(Log in to edit the wiki and be the first to show why the bill should not pass!)
- Status as of August 2, 2007
8/2/2007: Referred to Senate committee. Status: Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.