Last progress April 24, 2025 (7 months ago)
Introduced on April 24, 2025 by Ed Case
Referred to the House Committee on Small Business.
This bill would create a new staff role at the Small Business Administration to help small businesses set up employee stock ownership plans (ESOPs)—plans that let workers own shares in their company. The specialist would give clear guidance on taxes, rules, valuing company stock, and ways to find funding, and would work with the Department of Labor and outside groups to make the process easier for small firms. It would also push for clearer federal guidance on ESOP rules, like how to value company stock.
The SBA would report to Congress each year on how many small businesses got help, what kind of help they received, and ideas to improve the process. The bill sets aside $500,000 for the first year it becomes law, with more money allowed in later years as needed.