[Congressional Bills 111th Congress]
[From the U.S. Government Publishing Office]
[H. Con. Res. 204 Introduced in House (IH)]

111th CONGRESS
  1st Session
H. CON. RES. 204

    Expressing continued support for employee stock ownership plans.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                            October 22, 2009

 Mr. Hinchey (for himself, Mr. Rohrabacher, Mr. Cantor, Mr. Coble, Mr. 
 Jones, Mr. Royce, and Mr. Souder) submitted the following concurrent 
 resolution; which was referred to the Committee on Education and Labor

_______________________________________________________________________

                         CONCURRENT RESOLUTION


 
    Expressing continued support for employee stock ownership plans.

Whereas in the Employee Retirement Income Security Act of 1974, Congress 
        codified a technique of corporate finance which utilizes employee stock 
        ownership, officially named an employee stock ownership plan (ESOP);
Whereas in the 35 years since the statutory recognition of ESOPs, there have 
        been ample data collected by objective research indicating that the vast 
        majority of corporations sponsoring employee stock ownership through 
        ESOPs are high performing companies that, among other indicia of high 
        performing companies, have better sales, are more sustainable, pay 
        better, and provide more retirement savings compared to similar 
        companies that are not employee-owned; and
Whereas Congress, in more than 15 laws since 1974, has made it explicit that 
        ESOPs are to serve the dual purpose of providing retirement savings and 
        stock ownership for employees, as well as being a financing technique 
        for corporations: Now, therefore, be it
    Resolved by the House of Representatives (the Senate concurring), 
That Congress expresses its continued support for employee stock 
ownership plans.
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