Small Business Employee Ownership Promotion Enhancement Act of 2018

Bill: 115-s-1538
Sponsor: full_name: Sen. Peters, Gary C. [D-MI]
Introduced: 2017-07-12
Policy area: Commerce
Subjects: Business education

Corporate finance and management

Employee benefits and pensions

Securities

Small business

Social work, volunteer service, charitable organizations
Latest action: action_date: 2018-12-19
text: By Senator Risch from Committee on Small Business and Entrepreneurship filed written report. Report No. 115-436.

Summaries:
action_date: 2017-07-12
action_desc: Introduced in Senate
text: <p><b>Small Business Employee Ownership Promotion Enhancement Act of 2017</b></p> <p>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.</p> <p>The director shall be responsible for:</p> <ul> <li> administering and disbursing materials that contain general information and technical assistance for the establishment of employee ownership structures; </li> <li> coordinating efforts for employee ownership with SCORE chapters located throughout the United States; </li> <li> 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 </li> <li> providing the Small Business Administration (SBA) 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.</li> </ul> <p>The director may be an SBA employee on the date of his or her appointment.</p>

action_date: 2018-03-19
action_desc: Reported to Senate with amendment(s)
text: <p><b>Small Business Employee Ownership Promotion Enhancement Act of 2018</b></p> <p>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.</p> <p>The director shall be responsible for:</p> <ul> <li>administering and disbursing materials that contain general information and technical assistance for the establishment of employee ownership structures; </li> <li>coordinating efforts for employee ownership with SCORE chapters located throughout the United States; </li> <li>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 </li> <li>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. </li></ul> <p>The director may be a SCORE employee on the date of appointment.</p>

tv_txt: II 115th CONGRESS 1st Session S. 1538 IN THE SENATE OF THE UNITED STATES July 12, 2017 Mr. Peters (for himself and Mr. Risch ) introduced the following bill; which was read twice and referred to the Committee on Small Business and Entrepreneurship A BILL 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) ) is amended— (1) by inserting (i) after (B) ; (2) in clause (i), as so designated, in the first sentence, by striking (SCORE) and inserting (referred to in this subparagraph as SCORE ) ; and (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. .

tv_txt: II Calendar No. 348 115th CONGRESS 2d Session S. 1538 IN THE SENATE OF THE UNITED STATES July 12, 2017 Mr. Peters (for himself, Mr. Risch , and Mrs. Gillibrand ) introduced the following bill; which was read twice and referred to the Committee on Small Business and Entrepreneurship March 19, 2018 Reported by Mr. Risch , with an amendment Strike out all after the enacting clause and insert the part printed in italic A BILL 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) ) is amended— (1) by inserting (i) after (B) ; (2) in clause (i), as so designated, in the first sentence, by striking (SCORE) and inserting (referred to in this subparagraph as SCORE ) ; and (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) ) is amended— (1) by inserting (i) after (B) ; (2) in clause (i), as so designated, in the first sentence, by striking (SCORE) and inserting (referred to in this subparagraph as SCORE ) ; and (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