President Ronald Reagan on Employee Ownership. The 116th Congress (2019-2020) has adjourned.  Once a Congress adjourns, at the end of its two-year cycle, all bills that have been introduced in either the House or the Senate that have not made it through the entire legislative process and signed into law are dead. A historical archive of ESOP legislation is provided below:

• ESOP legislation introduced during the 115^th Congress is available at the following link .
• ESOP legislation introduced during the 116^th Congress is available at the following link.
• ESOP Legislation introduced during the 117^th Congress is available at the following link.
• ESOP Legislation introduced during the 117th Congress is available at the following link.

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.

Last update: April 25, 2024.

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.

Don’t see your Senator/ Representatives supporting the above bills?  Want to get involved?  Not sure whom to contact (Senators, Representatives)? The ESOP Association has an Advocacy kit that is available FREE, the kit contains sample letters and information which you may use when contacting your elected representatives.  Need help, have a question? contact INCEO.