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Support for Worker-Owned Businesses: New Programs and Funding Access

This act aims to support and expand businesses where employees are owners. Citizens may gain new opportunities to establish such enterprises, easier access to capital, and educational and technical assistance. The goal is to strengthen local economies and create new jobs.
Key points
Federal agencies will create programs to support worker-owned businesses, remove regulatory barriers, and facilitate access to financing.
A U.S. Council on Worker Cooperatives will be established to coordinate government efforts in developing these businesses and report on progress.
Increased funding for small business lending programs and financial institutions will educate about the value of worker-owned businesses.
article Official text account_balance Process page
Expired
Citizen Poll
No votes cast
Additional Information
Print number: 118_HR_7721
Sponsor: Rep. Khanna, Ro [D-CA-17]
Process start date: 2024-03-19
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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

National Worker Cooperative Development and Support Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_HR_7721.

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 2024-03-19.

What are the main provisions?

Key points include:

  • Federal agencies will create programs to support worker-owned businesses, remove regulatory barriers, and facilitate access to financing.
  • A U.S. Council on Worker Cooperatives will be established to coordinate government efforts in developing these businesses and report on progress.
  • Increased funding for small business lending programs and financial institutions will educate about the value of worker-owned businesses.
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. Khanna, Ro [D-CA-17].

What is the latest detailed status?

The latest detailed status is: Introduced in House

Is this summary verified?

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

CATEGORIES

Labor Economy