An Act promoting entrepreneurship through employee ownership
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
This bill aims to encourage more businesses in Massachusetts to offer employee ownership, such as through stock options or employee stock ownership plans (ESOPs). The goal is to promote entrepreneurship and provide employees with a greater stake in the companies they work for. By incentivizing employee ownership, the bill seeks to foster economic growth and create a more engaged workforce. It builds upon existing efforts to support business development within the state.
Key provisions
- Provides incentives for businesses to establish employee ownership programs.
- Encourages the use of stock options and ESOPs.
- Supports the growth of businesses through employee participation.
- Facilitates the transfer of business ownership to employees.
Who is affected
- Businesses in Massachusetts
- Employees of Massachusetts businesses
- Massachusetts residents
Bill text
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Text extraction is in progress. View the official source.
Sponsors
Official sponsors from legislative records.
8 on record
Primary sponsor
Cosponsors
Carmine Lawrence Gentile
Joanne M. Comerford
Arguments
Reasons offered for and against this legislation.
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