Summary: S.1538 — 115th Congress (2017-2018)All Information (Except Text)

Bill summaries are authored by CRS.

Shown Here:
Reported to Senate with amendment(s) (03/19/2018)

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.