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Employee Equity Investment Act: New Funding for Worker-Owned Businesses

This act introduces new funding opportunities for small businesses transitioning to employee ownership. It aims to make it easier for employees to acquire ownership stakes, potentially leading to greater job stability and profit sharing. Additionally, the act establishes a dedicated office and programs to support these transitions.
Key points
A new investment facility with up to $5 billion annually to support businesses where employees become owners.
Easier access to government contracts for small businesses, including those owned by women, veterans, or disadvantaged individuals, after transitioning to employee ownership.
Requirement for independent evaluation and advice for transactions to protect the interests of employees becoming co-owners.
Establishment of an Office of Employee Ownership to educate and assist businesses in transitioning to employee ownership models.
article Official text account_balance Process page
Expired
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Additional Information
Print number: 118_HR_3383
Sponsor: Rep. Phillips, Dean [D-MN-3]
Process start date: 2023-05-16
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Employee Equity Investment Act of 2023

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_3383.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2023-05-16.

What are the main provisions?

Key points include:

  • A new investment facility with up to $5 billion annually to support businesses where employees become owners.
  • Easier access to government contracts for small businesses, including those owned by women, veterans, or disadvantaged individuals, after transitioning to employee ownership.
  • Requirement for independent evaluation and advice for transactions to protect the interests of employees becoming co-owners.
  • Establishment of an Office of Employee Ownership to educate and assist businesses in transitioning to employee ownership models.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Phillips, Dean [D-MN-3].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Small Business.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-25.

CATEGORIES

Economy Labor Public Investments