S.1082 - United States Employee Ownership Bank Act115th Congress (2017-2018)
|Sponsor:||Sen. Sanders, Bernard [I-VT] (Introduced 05/10/2017)|
|Committees:||Senate - Banking, Housing, and Urban Affairs|
|Latest Action:||Senate - 05/10/2017 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. (All Actions)|
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Summary: S.1082 — 115th Congress (2017-2018)All Information (Except Text)
Introduced in Senate (05/10/2017)
United States Employee Ownership Bank Act
This bill requires the Department of the Treasury to establish the U.S. Employee Ownership Bank, which shall be authorized to provide, in accordance with specified terms, conditions, and other requirements, financial assistance to increase employee ownership of a company.
In addition, the bill amends the Worker Adjustment and Retraining Notification Act to specify 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 though an employee stock-ownership plan or an eligible worker-owned cooperative.