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Boosting Support and Education for Employee-Owned Businesses and Cooperatives.

This Act mandates the Small Business Administration (SBA) to significantly improve its outreach and education efforts regarding employee ownership and cooperative business models. The goal is to make it easier for small businesses to transition to employee ownership, potentially leading to greater job stability and wealth sharing among employees. The SBA must also expand its investment program outreach to include investors.
Key points
The SBA is required to actively participate in federal working groups and meetings focused on employee ownership and cooperatives to ensure better coordination of support.
Within 180 days, the SBA must use its dedicated promotion program to provide targeted assistance and information to small businesses interested in employee ownership.
Outreach for small business investment programs (SBIC) is expanded to specifically target investors, potentially increasing capital availability for small businesses.
article Official text account_balance Process page
Placed on Calendar
Citizen Poll
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Additional Information
Print number: 119_HR_5778
Sponsor: Rep. McIver, LaMonica [D-NJ-10]
Process start date: 2025-10-17
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Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Improving SBA Engagement on Employee Ownership Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_5778.

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 2025-10-17.

What are the main provisions?

Key points include:

  • The SBA is required to actively participate in federal working groups and meetings focused on employee ownership and cooperatives to ensure better coordination of support.
  • Within 180 days, the SBA must use its dedicated promotion program to provide targeted assistance and information to small businesses interested in employee ownership.
  • Outreach for small business investment programs (SBIC) is expanded to specifically target investors, potentially increasing capital availability for small businesses.
What is the specific legal status?

The current status is Placed on Calendar.

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. McIver, LaMonica [D-NJ-10].

What is the latest detailed status?

The latest detailed status is: Placed on the Union Calendar, Calendar No. 358.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

CATEGORIES

Economy Labor