The below ESOP Legislation was introduced in the 117th Congress  (2021-2023).  This page provides a link to the bills, a short summary, the numbers of co-sponsors and which Indiana Senator or Representative(s) has supported these bills.

2022 – Major Legislative win for Employee Ownership in the 117th Congress: First introduced in 2009, Sen. Bernie Sanders (I-Vt.) on Thursday announced his Worker Ownership, Readiness, and Knowledge (WORK) Act, essential legislation to help workers expand employee ownership across the country, was included in the $1.7 trillion omnibus that passed the U.S. Senate on Thursday ahead of the Friday deadline.

Senate:

• S.4353 To amend the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code of 1986 to improve retirement plan provisions, and for other purposes. This bill was introduced 6/7/2022 by Senators Patty Murry (D-WA) and Richard Burr (R-NC).
• S. 2402 A bill to establish a pilot program to  incentivize employee ownership in defense contracting. This bill was introduced 7/20/2021 by Senator Elizbeth Warren (D-MA) and has 1 Cosponsor.
• S. 1982 A bill to amend the Internal Revenue Code of 1986 for purposes of the tax on private foundation excess business holdings to treat as outstanding any employee-owned stock purchased by a business enterprise pursuant to certain employee stock ownership retirement plans. Introduced 6/9/2021 by Senator Debbie Stabenow (D-MI), this bill as 1 Cosponsor. No Indiana Senators have Cosponsored this bill.
• S. 1559 2021 ESOP Fairness Act introduced 5/11/2021 by Senator Thom Tillis (R-NC), this bill has 2 Cosponsors.  No Indiana Senators have Cosponsored this bill.
• S. 1300 Promotion and Expansion of Private Employee Ownership Act of 2021.  This bill was introduced 4/22/2021 by Senator Benjamin Cardin (D-MD) and enjoys bipartisan support with 38 Cosponsors (18 Democratic, 18 Republicans, & 2 Independents).  Senator Todd Young (R-IN) has cosponsored this bill. Updated 12/2/2022
• S. 1260 United States Innovation and Competition Act of 2021. This bill establishes a new Directorate for Technology and Innovation in the National Science Foundation, to establish a regional technology hub program, to require a strategy and report on economic security, science, research, innovation, manufacturing, and job creation, to establish a critical supply chain resiliency program, and for other purposes. Introduced 4/20/21 by Senator Charles Schumer (D-NY). This bill enjoys bipartisan support with 7 Republican and 6 Democratic Cosponsors.  Senator Todd Young R-IN has cosponsored this bill.
• S. 486 Rebuild Rural America Act of 2021.  The purpose of this bill is to amend the Department of Agriculture Reorganization Act of 1994 to establish the Rural Innovation and Partnership Administration and to amend the Consolidated Farm and Rural Development Act to establish the Rural Future Partnership Fund to invest in the rural areas of the United States to achieve their preferred future while maximizing their contribution to the well-being of the United States, and for other purposes. This bill was introduced by Senator Kristen Gillibrand (D-NY) on 2/25/21, and has 4 Cosponsors.  No Indiana Senator has Cosponsored this bill.

House:

• H.R. TBD, Main Street Employee Ownership 2.0 Act of 2022.  To amend the Small Business Act to modify requirements relating to certain employee-owned businesses, and for other purposes.  Introduced by Representative Phillips and Chairwoman Velazquez.
• H.R. TBD Improving SBA Engagement on Employee Ownership Act.  The legislation would improve SBA’s outreach and engagement on employee ownership and cooperative development by including SBIC limited partners and sponsors of SBIC funds in the outreach and education requirement of the Main Street Act. Introduced by Representative Phillips and Chairwoman Velazquez.
• H.R.7310. Protecting America’s Retirement Security Act. The Secretary of Labor shall establish within the Department of Labor an Employee Ownership and Participation Initiative to promote employee ownership and employee participation in business decision making.  In carrying out the Initiative, the Secretary shall—(A) support within the States existing programs designed to promote employee ownership and employee participation in business decision making; and (B) facilitate within the States the formation of new programs designed to promote employee ownership and employee participation in business decision making. This bill was introduced by Rep Lucy McBath (D-GA-6) and has 10 cosponsors, 0-R, 10-D.
• H.R.6024 To establish within the Employment and Training Administration an Employee Ownership and Participation Initiative to promote employee ownership and participation in business decision-making. It also establishes a program, which may include grants for outreach, technical assistance, and training, to encourage new and existing state programs to foster employee ownership and participation in business decision-making.  This bill was introduced by Rep. Joe Courtney (D-CT-2) on 11/18/2021, and has two cosponsors, 0-R 2-D.
• H.R. 4610 To establish an expansion awards pilot program as a part of the Hollings Manufacturing Extension Partnership, and for other purposes.  This bill provides funding for centers engaged in employee engagement, including employee ownership and workforce training.  This bill was introduced 7/21/21 by Rep. Haley Stevens (D-MI-11) and enjoys bipartisan support with 1 Republican Cosponsor. No Indiana Representatives have Cosponsored this bill.
• H.R. 4490 Emergency Economic and Workforce System Resiliency Act introduced July 16, 2021 by Rep. Adam Smith (D-WA-9), 0 Cosponsors. No Indiana Representatives have cosponsored this bill.
• H.R. 4141 Promotion and Expansion of Private Employee Ownership Act of 2021 introduced 6/24/2021 by Rep. Ron Kind (D-WI-3). This bill enjoys bipartisan support with 73 Cosponsors (40 Republican and 33 Democratic)  Rep Jackie Walorski (R-IN-2) had cosponsored this bill. – Updated 12/28/2022
• H.R. 3152 To amend the Internal Revenue Code of 1986 for purposes of the tax on private foundation excess business holdings to treat as outstanding any employee-owned stock purchased by a business enterprise pursuant to certain employee stock ownership retirement plans. Introduced 5/12/2021 by Rep. Daniel Kildee (D-MI-5), 0 Cosponsors. No Indiana Representatives have cosponsored this bill.
• H.R. 2954 Securing a Strong Retirement Act of 2021.  The purpose of this bill is to increase retirement savings, simplify and clarify retirement plan rules, and for other purposes. Introduced 5/4/21 by Rep. Richard Neal (D-MA-1), this bill has 103 Cosponsors and enjoys bipartisan support with 55 Democratic and 48 Republican Cosponsors.  This bill passed in the House March 29, and is sent to the Senate.  Rep Jackie Walorski (R-IN-2) has cosponsored this bill. – Updated 4/1/22
• H.R. 2927 Save Act if 2021, Purpose is to amend the Internal Revenue Code of 1986 and the Employee Retirement Income Security Act of 1974 to improve rules relating to retirement plans.  Introduced 4/30/21 by Rep. Ron Kind (D-WI-3),  2 Cosponsors. No Indiana Representatives have cosponsored this bill.
• H.R. 2361 Rebuild Rural America Act of 2021, The purpose of this bill is to amend the Department of Agriculture Reorganization Act of 1994 to establish the Rural Innovation and Partnership Administration and to amend the Consolidated Farm and Rural Development Act to establish the Rural Future Partnership Fund to invest in the rural areas of the United States to achieve their preferred future while maximizing their contribution to the well-being of the United States, and for other purposes. Introduced 4/5/2021 by Rep. Antionio Delgado (D-NY-19), this bill has 16 Cosponsors, No Indiana Representative has Cosponsored this bill. – Updated 5/17/2022
• H.R. 2207 Purpose is to amend the Internal Revenue Code of 1986 for purposes of the tax on private foundation excess business holdings to treat as outstanding any employee-owned stock purchased by a business enterprise pursuant to certain employee stock ownership retirement plans. Introduced  3/26/2021 by Rep. Mario Diaz-Balart (R-FL-25), 0 Cosponsors.  No Indiana Representatives have cosponsored this bill.