HR 2357 · 115th Congress · Finance and Financial Sector

United States Employee Ownership Bank Act

Introduced 2017-05-04· Sponsored by Rep. DeFazio, Peter A. [D-OR-4]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the Committee on Financial Services, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.(2017-05-04)

Plain Language Summary

[AI summary unavailable — showing source text] United States Employee Ownership Bank Act This bill requires the Department of the Treasury to establish the U.S. Employee Ownership Bank, which shall be authorized to provide, in accordance with specified terms, conditions, and other requirements, financial assistance to increase employee ownership of a company. In addition, the bill amends the Worker Adjustment and Retraining Notification Act to specify that, in general, if an employer orders the closing of a plant or facility, the employer must offer its employees an opportunity to purchase the plant or facility though an employee stock-ownership plan or an eligible worker-owned cooperative.…

Summarized by Claude AI · Non-partisan · For informational purposes only