legislation: 108-hr-2969

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bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
108-hr-2969 108 hr 2969 United States Employee Ownership Bank Act Finance and Financial Sector 2003-07-25 2003-08-04 Referred to the Subcommittee on Domestic and International Monetary Policy, Trade, and Technology. House Rep. Sanders, Bernard [I-VT-At Large] VT I S000033 18 United States Employee Ownership Bank Act - Directs the Secretary of the Treasury to establish the United States Employee Ownership Bank in order to foster increased employee ownership and participation in company decision-making throughout the United States. Lists among the Bank's duties providing loans to enable employees to purchase a business through an employee stock ownership plan or eligible worker-owned cooperative that is at least 51 percent employee-owned. States that such loans are subordinated to the interests of all other creditors, loan guarantees, and technical assistance programs. Amends the Community Reinvestment Act of 1977 to provide that in assessing and taking into account the record of a financial institution, the appropriate Federal financial supervisory agency may consider as a factor capital investments, loans, loan participation, technical assistance, financial advice, grants, and other ventures undertaken by the institution to support or enable manufacturing employees to establish employee stock ownership plans or eligible worker owned cooperatives that are at least 51 percent employee-owned plans or cooperatives. 2023-01-15T06:02:45Z  

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