Small Business Employee Ownership Promotion Enhancement Act of 2018

To amend the Small Business Act to establish awareness of, and technical assistance for, the creation of employee stock ownership plans, and for other purposes. 1. Short title This Act may be cited as the Small Business Employee Ownership Promotion Enhancement Act of 2017 2. SCORE program assistance Section 8(b)(1)(B) of the Small Business Act ( 15 U.S.C. 637(b)(1)(B) (1) by inserting (i) (B) (2) in clause (i), as so designated, in the first sentence, by striking (SCORE) (referred to in this subparagraph as SCORE (3) by adding at the end the following: (ii) SCORE shall appoint an individual to serve as the SCORE Employee Ownership Director— (I) whose duties shall relate to the various forms of employee ownership; (II) who shall be responsible for— (aa) administering and disbursing materials that contain general information and technical assistance with respect to the establishment of employee ownership structures; (bb) coordinating efforts with respect to employee ownership with the chapters of SCORE located throughout the United States; (cc) providing technical assistance relating to a range of business forms and strategies that promote or facilitate employee ownership, including— (AA) an employee stock ownership plan; (BB) a cooperative; and (CC) any other approach determined appropriate by the SCORE Employee Ownership Director; and (dd) providing the Administrator and the Office of Entrepreneurial Development with statistics, including regional statistics from a chapter of SCORE, relating to services provided to small business concerns potentially undertaking a form of employee ownership; and (III) who may be an employee of the Administration as of the date on which the appointment is made. . 1. Short title This Act may be cited as the Small Business Employee Ownership Promotion Enhancement Act of 2018 2. SCORE program assistance Section 8(b)(1)(B) of the Small Business Act ( 15 U.S.C. 637(b)(1)(B) (1) by inserting (i) (B) (2) in clause (i), as so designated, in the first sentence, by striking (SCORE) (referred to in this subparagraph as SCORE (3) by adding at the end the following: (ii) SCORE shall appoint an individual to serve as the SCORE Employee Ownership Director— (I) whose duties shall relate to the various forms of employee ownership; (II) who shall be responsible for— (aa) administering and disbursing materials that contain general information and technical assistance with respect to the establishment of employee ownership structures; (bb) coordinating efforts with respect to employee ownership with the chapters of SCORE located throughout the United States; (cc) providing technical assistance relating to a range of business forms and strategies that promote or facilitate employee ownership, including— (AA) an employee stock ownership plan; (BB) a cooperative; and (CC) any other approach determined appropriate by the SCORE Employee Ownership Director; and (dd) providing the Administrator and the Office of Entrepreneurial Development with statistics, including regional statistics from a chapter of SCORE, relating to services provided to small business concerns potentially undertaking a form of employee ownership; and (III) who may be an employee of SCORE as of the date on which the appointment is made. . March 19, 2018 Reported with an amendment

Summary: Small Business Employee Ownership Promotion Enhancement Act of 2018 This bill amends the Small Business Act to require the Service Corps of Retired Executives (SCORE) to appoint a SCORE Employee Ownership Director, whose duties shall relate to the various forms of employee ownership. The director shall be responsible for: administering and disbursing materials that contain general information and technical assistance for the establishment of employee ownership structures; coordinating efforts for employee ownership with SCORE chapters located throughout the United States; providing technical assistance relating to a range of business forms and strategies that promote or facilitate employee ownership, including an employee stock ownership plan, a cooperative, and any other approach determined appropriate by the director; and providing the Small Business Administration and the Office of Entrepreneurial Development with statistics, including regional statistics from a SCORE chapter relating to services provided to small businesses potentially undertaking a form of employee ownership. The director may be a SCORE employee on the date of appointment.