S 4236
Temporary Federal ESOP Grant Program Act of 2020
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Bill overview
This bill creates a temporary grant program to encourage businesses to establish or expand employee stock ownership plans (ESOPs). The program, administered by the Treasury Department, will provide grants to eligible businesses that meet specific requirements, such as having a signed agreement with an ESOP trust and demonstrating a commitment to investing grant funds in capital assets. The grants are capped at $20,000 per employee or $50,000 for development costs, and the program will conclude on September 30, 2022.
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