Advocate for Employee Ownership Act
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Overview
This bill establishes an Advocate for Employee Ownership within the Department of Labor to promote the expansion of employee ownership in businesses. The Advocate will provide public education, assist with dispute resolution, and recommend legislative and administrative changes to encourage employee stock ownership plans. They will also coordinate with other federal and state agencies to raise awareness about the benefits of employee ownership.
Key provisions
- Appoints an Advocate for Employee Ownership within the Department of Labor.
- The Advocate will consult with the Employee Ownership Initiative.
- The Advocate will provide public education and assistance related to employee ownership.
- The Advocate will assist in resolving disputes between the Department of Labor and employee stock ownership plan participants.
- The Advocate will recommend legislative and administrative changes to support employee ownership.
- The Advocate will coordinate with other federal and state agencies.
- The Advocate will be compensated at a rate equivalent to a position at level V of the Executive Schedule.
- The Advocate must submit an annual report detailing activities and recommendations.
Who is affected
- Employees
- Employers
- Small Business Owners
- Department of Labor
- Employee Stock Ownership Plan Sponsors
Bill text
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Sponsors
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2 on record
Primary sponsor
Cosponsor
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