3.0.0 1982 2023-01-11T20:36:11Z 2023-01-11T20:36:11Z Senate S S 2007-08-02 110 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Standing Referred to 2007-08-03T03:00:20Z 2007-08-02 ssbk00 Banking, Housing, and Urban Affairs Committee Senate Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. IntroReferral 2007-08-02 Sponsor introductory remarks on measure. (CR S10821) IntroReferral B00100 9 Library of Congress 2007-08-02 Introduced in Senate IntroReferral 10000 9 Library of Congress S000033 Sen. Sanders, Bernard [I-VT] Bernard Sanders I VT N L000174 Sen. Leahy, Patrick J. [D-VT] Patrick Leahy D VT 2007-08-02 True B000944 Sen. Brown, Sherrod [D-OH] Sherrod Brown D OH 2007-09-26 False Commerce Cooperative societies Department of the Treasury Economics and Public Finance Employee ownership Executive reorganization Federally-guaranteed loans Finance and Financial Sector Government Operations and Politics Government lending Industrial relations Labor and Employment Commerce 00 2007-08-02 Introduced in Senate 2007-12-28T15:40:04Z United States Employee Ownership Bank Act - Directs the Secretary of the Treasury to establish the United States Employee Ownership Bank to foster increased employee ownership and greater employee participation in company decisionmaking throughout the United States.

Requires the Bank to make: (1) loans (subordinated to the interests of all other creditors) and loan guarantees to employees to purchase a business through an employee stock ownership plan or eligible worker-owned cooperative; and (2) grants to states and nonprofit and cooperative organizations with experience in developing employee-owned businesses and worker-owned cooperatives to provide education, outreach, and technical assistance to such employee business efforts.

Requires the Bank to insure such loans or loan guarantees against nonrepayment of the outstanding loan balance.

]]> United States Employee Ownership Bank Act Official Title as Introduced A bill to provide for the establishment of the United States Employee Ownership Bank, and for other purposes. Introduced in Senate IS Display Title United States Employee Ownership Bank Act Short Titles as Introduced United States Employee Ownership Bank Act Introduced in Senate 2007-08-02T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-110s1982is/xml/BILLS-110s1982is.xml 2007-08-02 Read twice and referred to the Committee on Banking, Housing, and Urban Affairs. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.