115 HR 10244 IH: Improving SBA Engagement on Employee Ownership Act U.S. House of Representatives 2024-11-21 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.

I118th CONGRESS2d SessionH. R. 10244IN THE HOUSE OF REPRESENTATIVESNovember 21, 2024Ms. Velázquez introduced the following bill; which was referred to the Committee on Small BusinessA BILLTo direct the Administrator of the Small Business Administration to improve outreach and education on employee ownership, and for other purposes.

1.

Short title

This Act may be cited as the Improving SBA Engagement on Employee Ownership Act.

2.

Cooperative working group participation

Section 7(a)(35) of the Small Business Act (15 U.S.C. 636(35)) is amended by adding at the end the following new subparagraph:(C)

Working groups and other engagements

The Administrator (or a designee thereof) shall attend any working groups, meetings, fora, and any other engagements on cooperatives or employee ownership of business concerns that are hosted by any other Federal agency or office—(i)to which the Administrator (or designee thereof) is invited; or(ii)with which the Administrator (or a designee thereof) has had a previous engagement or relationship..

3.

Amendment to small business investment company program outreach

Section 862(c) of the John S. McCain National Defense Authorization Act for Fiscal Year 2019 (Public Law 115–232; 15 U.S.C. 648 note) is amended by inserting , and to the investors and limited partners of such companies, before to increase.

4.

Outreach and assistance

Not later than 180 days after the date of the enactment of this Act, the Administrator of the Small Business Administration shall carry out the requirements of section 862(e) of the John S. McCain National Defense Authorization Act for Fiscal Year 2019 (Public Law 115–232; 15 U.S.C. 648 note) through the Small Business Employee Ownership and Cooperatives Promotion Program of the Administration.