3.0.0 5236 2023-01-11T13:39:37Z 2023-01-11T13:39:37Z House HR 2018-03-08 115 [Congressional Record Volume 164, Number 41 (Thursday, March 8, 2018)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Ms. VELAZQUEZ:H.R. 5236.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8, Clause 1The Congress shall have Power to . . . provide for the . .. general Welfare of the United States; . . .____________________[Page H1502]]]> sssb00 Small Business and Entrepreneurship Committee Senate Standing Referred to 2018-05-09T15:45:44Z hssm00 Small Business Committee House Standing Reported by 2018-04-24T18:24:12Z Markup by 2018-03-14T18:03:41Z Referred to 2018-03-08T14:03:10Z H. Rept. 115-645 John S. McCain National Defense Authorization Act for Fiscal Year 2019 115 5515 HR 2018-08-13 Became Public Law No: 115-232. Related bill CRS Fairness to Veterans for Infrastructure Investment Act of 2017 115 4319 HR 2017-11-13 Referred to the Subcommittee on Highways and Transit. Related bill CRS Main Street Employee Ownership Act of 2018 115 2786 S 2018-04-26 Read twice and referred to the Committee on Small Business and Entrepreneurship. Related bill CRS 2018-05-09 sssb00 Small Business and Entrepreneurship Committee Senate Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship. IntroReferral 2018-05-08 14:58:02 Motion to reconsider laid on the table Agreed to without objection. Floor H38310 2 House floor actions 2018-05-08 14:57:59 On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote. (text CR H3810-3811) Floor H37300 2 House floor actions 2018-05-08 14:57:59 Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by voice vote.(text CR H3810-3811) Floor 8000 9 Library of Congress 2018-05-08 14:48:11 DEBATE - The House proceeded with forty minutes of debate on H.R. 5236. Floor H8D000 2 House floor actions 2018-05-08 14:48:09 Considered under suspension of the rules. (consideration: CR H3810-3812) Floor H30000 2 House floor actions 2018-05-08 14:48:07 Mr. Chabot moved to suspend the rules and pass the bill, as amended. Floor H30300 2 House floor actions 2018-04-24 Placed on the Union Calendar, Calendar No. 494. Calendars H12410 2 House floor actions U00494 2018-04-24 Reported (Amended) by the Committee on Small Business. H. Rept. 115-645. Committee H12200 2 House floor actions hssm00 Small Business Committee 2018-04-24 Reported (Amended) by the Committee on Small Business. H. Rept. 115-645. Committee 5000 9 Library of Congress hssm00 Small Business Committee 2018-03-14 hssm00 Small Business Committee 1 House committee actions Ordered to be Reported (Amended) by Voice Vote. Committee 2018-03-14 hssm00 Small Business Committee 1 House committee actions Committee Consideration and Mark-up Session Held. Committee 2018-03-08 Referred to the House Committee on Small Business. IntroReferral H11100 2 House floor actions hssm00 Small Business Committee 2018-03-08 Introduced in House IntroReferral Intro-H 9 Library of Congress 2018-03-08 Introduced in House IntroReferral 1000 9 Library of Congress V000081 Rep. Velazquez, Nydia M. [D-NY-7] NYDIA VELAZQUEZ D NY M. 7 N 2018-06-27T14:53:00Z H.R. 5236, Main Street Employee Ownership Act of 2018 https://www.cbo.gov/publication/54128 As passed by the House of Representatives on May 8, 2018 Commerce Business education Business investment and capital Congressional oversight Employee benefits and pensions Government lending and loan guarantees Government studies and investigations Minority and disadvantaged businesses Securities Small business Commerce 00 2018-03-08 Introduced in House 2018-07-18T20:35:52Z Main Street Employee Ownership Act of 2018

This bill amends the Small Business Act to expand the authority of the Small Business Administration (SBA) to guarantee loans for qualified employee trusts of a small business to purchase the stock of that business. Specifically, the bill allows the guaranteed loan to also cover transactions costs associated with purchasing the stock. In addition, it allows loans to a small business to be guaranteed if the loan proceeds will: (1) be used to provide loans to a qualified employee trust of the small business to purchase the business's stock; and (2) result in the trust owning at least 51% of the business's stock. The SBA must guarantee loans to cooperatives in which employees are eligible for membership for such stock purchases.

The SBA shall establish: (1) an outreach program with licensed small business investment companies to increase investment in transitions to employee-owned businesses, and (2) a Small Business Employee Ownership and Cooperative Promotion Program to offer technical assistance and training on the transition to employee ownership through cooperatives and qualified employee trusts.

The Administrator of the SBA shall coordinate an interagency working group on employee-owned businesses.

]]> 17 2018-04-24 Reported to House with amendment(s) 2018-08-08T23:40:06Z Main Street Employee Ownership Act of 2018

This bill amends the Small Business Act to expand the authority of the Small Business Administration (SBA) to guarantee loans for qualified employee trusts of a small business to purchase the stock of that business. Specifically, the bill allows the guaranteed loan to also cover transactions costs associated with purchasing the stock. In addition, it allows loans to a small business to be guaranteed if the loan proceeds will: (1) be used to provide loans to a qualified employee trust of the small business to purchase the business's stock; and (2) result in the trust owning at least 51% of the business's stock. The SBA must guarantee loans to cooperatives in which employees are eligible for membership for such stock purchases.

The SBA shall: (1) provide outreach and educational materials to licensed small business investment companies to increase investment in transitions to employee-owned businesses, and (2) establish a Small Business Employee Ownership and Cooperative Promotion Program to offer technical assistance and training on the transition to employee ownership through cooperatives and qualified employee trusts.

The Administrator of the SBA shall coordinate an interagency working group on employee-owned businesses.

]]> Main Street Employee Ownership Act of 2018 Display Title Main Street Employee Ownership Act of 2018 Official Title as Introduced To expand opportunities available to employee-owned business concerns through Small Business Administration loan programs, and for other purposes. Introduced in House IH Short Titles as Introduced Main Street Employee Ownership Act of 2018 Short Titles as Reported to House Main Street Employee Ownership Act of 2018 H House Short Titles as Passed House Main Street Employee Ownership Act of 2018 H House Referred in Senate 2018-05-09T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr5236rfs/xml/BILLS-115hr5236rfs.xml Engrossed in House 2018-05-08T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr5236eh/xml/BILLS-115hr5236eh.xml Reported in House 2018-04-24T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr5236rh/xml/BILLS-115hr5236rh.xml Introduced in House 2018-03-08T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr5236ih/xml/BILLS-115hr5236ih.xml 2018-05-09 Received in the Senate and Read twice and referred to the Committee on Small Business and Entrepreneurship. 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.