The 118th Congress will convene Jan 3, 2023 and run through Jan 3 2025.  This page provides a link to the bills associated with Employee Ownership that were introduced during this legislative session, a short summary, the numbers of co-sponsors and which Indiana Senator or Representative(s) has supported these bills.

Senate:

• S.1618 Introduced to the Senate on 5/16/2023 by Sen. Van Hollen (D-MD), A bill to amend the Small Business Investment Act of 1958 to establish an employee equity investment facility, and for other purposes. This bill has 7 cosponsors 3 Dem, 4 Rep, and has been cosponsored by both Senator Young and Braun.
• S.2515 Introduced to the Senate on 7/26/2023 by Senators Ben Cardin (D-MD), and Steve Daines (R-Mont). The bicameral bill would eliminate barriers that businesses and their owners currently face in establishing a new S-ESOP or expanding the employee-ownership stake in an S corporation. With the creation of a new “Employee Ownership Advocate” at the Department of Labor with a mandate to assist employee-owned companies and review ESOP-related regulations before they are finalized, the legislation would solidify advocacy for S-ESOPs from development through all stages of growth. This bill has 40 cosponsors 19 Dem, 19 Rep, and 2 Independents.  Indiana Senators Todd Young and Mike Braun have cosponsored this legislation.

House:

• HR.3383 Introduced to the House, on 5/16/2023 by Rep. Dean (D-MN-3), A bill to amend the Small Business Investment Act of 1958 to establish an employee equity investment facility, and for other purposes. This bill has 13 cosponsors 6 Dem, 7 Rep. No Indiana Representative has co-sponsored this bill.
• HR.4896 Introduced to the House on 7/26/2023 by Congressmen Mike Kelly (R-PA-16).To amend the Internal Revenue Code of 1986 and the Small Business Act to expand the availability of employee stock ownership plans in S corporations, and for other purposes. This bill has 7 cosponsors 4 Dem and 3 Rep.  No Indiana Congressperson has cosponsored this legislation.
• HR.5011 Introduced to the House on 7/27/2023 by Congressmen Mike Kelly (R-PA-16).  To amend the Internal Revenue Code of 1986 and the Small Business Act to expand the availability of employee stock ownership plans in S corporations, and for other purposes.  This bill has 7 cosponsors 4 Dem and 3 Rep.  No Indiana Congressperson has cosponsored this legislation.
• HR.7721 Introduced to the House on 3/19/2024 by Rep. Ro Khanna (D-CA-17), Jamaal Bowman (D-NY-16), and Rashida Tlaib (D-MI-12).  The National Worker Cooperative Development and Support Act  purpose is to direct the heads of certain Federal agencies to develop and support worker-owned cooperative businesses, and for other purposes.