Improving SBA Engagement on Employee Ownership Act

Bill: 118-hr-10244
Sponsor: full_name: Rep. Velázquez, Nydia M. [D-NY-7]
Introduced: 2024-11-21
Policy area: Commerce
Latest action: action_date: 2024-11-21
text: Referred to the House Committee on Small Business.

Summaries:

tv_txt: I 118th CONGRESS 2d Session H. R. 10244 IN THE HOUSE OF REPRESENTATIVES November 21, 2024 Ms. Velázquez introduced the following bill; which was referred to the Committee on Small Business A BILL To direct the Administrator of the Small Business Administration to improve outreach and education on employee ownership, and for other purposes.

1. Short title This Act may be cited as the Improving SBA Engagement on Employee Ownership Act . 2. Cooperative working group participation Section 7(a)(35) of the Small Business Act ( 15 U.S.C. 636(35) ) is amended by adding at the end the following new subparagraph: (C) Working groups and other engagements The Administrator (or a designee thereof) shall attend any working groups, meetings, fora, and any other engagements on cooperatives or employee ownership of business concerns that are hosted by any other Federal agency or office— (i) to which the Administrator (or designee thereof) is invited; or (ii) with which the Administrator (or a designee thereof) has had a previous engagement or relationship. . 3. Amendment to small business investment company program outreach Section 862(c) of the John S. McCain National Defense Authorization Act for Fiscal Year 2019 ( Public Law 115–232 ; 15 U.S.C. 648 note) is amended by inserting , and to the investors and limited partners of such companies, before to increase . 4. Outreach and assistance Not later than 180 days after the date of the enactment of this Act, the Administrator of the Small Business Administration shall carry out the requirements of section 862(e) of the John S. McCain National Defense Authorization Act for Fiscal Year 2019 ( Public Law 115–232 ; 15 U.S.C. 648 note) through the Small Business Employee Ownership and Cooperatives Promotion Program of the Administration.