United States Employee Ownership Bank Act
Latest action · May 23, 2019 Referred to the Committee on Financial Services, and in addition to the Committee on Education and Labor, 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.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedMay 23, 2019
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
United States Employee Ownership Bank Act
This bill requires the Department of the Treasury to establish the U.S. Employee Ownership Bank, which must provide, in accordance with specified terms, conditions, and other requirements, financial assistance to increase employee ownership of a company.
The bill specifies 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 through an employee stock-ownership plan or an eligible worker-owned cooperative.
Cosponsors
Members who signed on, in the order they did.
Committees 2
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| House | Financial Services Committee | Referred May 23, 2019 |
| House | Education and Workforce Committee | Referred May 23, 2019 |
Actions 2
Everything that happened, newest first.
- May 23, 2019Introduced in House
- May 23, 2019Referred to the Committee on Financial Services, and in addition to the Committee on Education and Labor, 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.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
Constitutional authority
The sponsor’s statement, as printed in the Congressional Record, vol. 165, no. 87, May 23, 2019, page H4166.
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| S 1661 | United States Employee Ownership Bank Act | Identical bill | May 23, 2019 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- To provide for the establishment of the United States Employee Ownership Bank, and for other purposes.
- Short Title(s) as Introduced
- United States Employee Ownership Bank Act
Subjects
Assigned by the Library of Congress. Policy area: Finance and Financial Sector.
- Bank accounts, deposits, capital
- Banking and financial institutions regulation
- Corporate finance and management
- Department of the Treasury
- Employee benefits and pensions
- Employment discrimination and employee rights
- Executive agency funding and structure
- Finance and Financial Sector
- Government lending and loan guarantees
- Labor-management relations
- Unemployment
Text 1
Each version as it was printed, newest first.
- May 23, 2019Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
