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Lowering Employee Ownership Threshold for Defense Contracts Pilot Program.

This Act significantly lowers the minimum required employee stock ownership (ESOP) percentage for businesses participating in a special Department of Defense (DoD) contracting pilot program. The threshold drops from 100% employee ownership to just 30%. This change aims to incentivize more small and medium-sized businesses to offer employee ownership plans, potentially increasing job stability and financial benefits for employees in the defense sector.
Key points
Amends the rules for the Department of Defense (DoD) pilot program designed to incentivize contracting with employee-owned businesses.
The minimum required employee ownership stake (via ESOP) is reduced from 100% to not less than 30%.
This change allows a broader range of companies to qualify for government contracts, potentially expanding employee ownership opportunities.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_6492
Sponsor: Rep. Mills, Cory [R-FL-7]
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Summarized by: gemini-flash-latest
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

ESOP Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_6492.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

What are the main provisions?

Key points include:

  • Amends the rules for the Department of Defense (DoD) pilot program designed to incentivize contracting with employee-owned businesses.
  • The minimum required employee ownership stake (via ESOP) is reduced from 100% to not less than 30%.
  • This change allows a broader range of companies to qualify for government contracts, potentially expanding employee ownership opportunities.
What is the specific legal status?

The current status is Introduced.

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. Mills, Cory [R-FL-7].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Armed Services.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-31.

CATEGORIES

Economy Labor Security