,i  #aae? ,,congress  #b;d ,session  ,h4
 ,r4 #ebcf  ,,9 ,,! ,,h\se ,,(          
,,repres5tatives  ,m>* #h1 #bjah,ms4    
,velzquez introduc$ ! foll[+ bill2 :i* 0
 ref]r$ to ! ,committee on ,small       
,bus9ess  ,a ,,bill  ,to exp&           
opportunities available to employee-own$
 bus9ess conc]ns ?r\gh ,small ,bus9ess  
,adm9i/ration loan programs1 & = o!r    
purposes4  #a4 ,%ort title ,?is ,act may
 be cit$ z ! ,ma9 ,/reet ,employee      
,own]%ip ,act ( #bjah4  #b4 ,def9itions 
,9 ?is ,act--  7#a7 ! t]ms ,adm9i/ration
 & ,adm9i/rator means ! ,small ,bus9ess 
,adm9i/ration & ! ,adm9i/rator !re(1    
respectively2  7#b7 ! t]m coop]ative    
means an entity t is det]m9$ to be a    
coop]ative by ! ,adm9i/rator2  7#c7 !   
t]m employee-own$ bus9ess conc]n means--
 7,a7 a coop]ative 9 :i* employees are  
eligible = memb]%ip2 &  7,b7 a qualifi$ 
employee tru/2  7#d7 ! t]ms qualifi$    
employee tru/ & small bus9ess conc]n h !
 mean+s giv5 ^? t]ms 9 section #c ( !   
,small ,bus9ess ,act 7#ae ,u4,s4,c4     

#fcb72 &  7#e7 ! t]m small bus9ess      
developm5t c5t] means a small bus9ess   
developm5t c5t] describ$ 9 section #ba (
 ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4  
#fdh74  #c4 ,expansion ( #g7;a7 loans   
7a7 ,9 g5]al ,section #g7;a7 ( ! ,small 
,bus9ess ,act 7#ae ,u4,s4,c4 #fcf7;a77  
is am5d$-- 7#a7 9 p>agraph 7#ae7--  7,a7
 9 subp>agraph 7,a7-- 7i7 by /rik+ ?is  
subsection to qualifi$ employee tru/s & 
ins]t+  ?is subsection-- 7i7 to qualifi$
 employee tru/s  2  7ii7 9 clause 7i71 z
 s designat$--  7,i7 by ins]t+ 1 & = any
 transaction co/s associat$ ) pur*as+1  
aft] pur*as+2  7,,ii7 by /rik+ ! p]iod  
at ! end & ins]t+ 2 &2 &  7iii7 by add+ 
at ! end ! foll[+3  7ii7 to a small     
bus9ess conc]n "u a plan approv$ by !   
,adm9i/rator1 if ! proce$s f ! loan are 
only us$ to make a loan to a qualifi$   
employee tru/1 & = any transaction co/s 
associat$ ) mak+ t loan1 t results 9 !  
qualifi$ employee tru/ own+ at lea/ #ea 
p]c5t ( ! small bus9ess conc]n4  2  7,b7
 9 subp>agraph 7,b7-- 7i7 9 ! matt]     

prec$+ clause 7i71 by ins]t+ or by !    
small bus9ess conc]n aft] ! tru/ee ( su*
 tru/2  7ii7 9 clause 7ii71 by /rik+ &  
at ! end2  7iii7 9 clause 7iii71 by     
/rik+ ! p]iod at ! end & ins]t+ 1 &2 &  
7iv7 by add+ at ! end ! foll[+3  7iv7 ) 
respect to a loan made to a tru/1 or to 
a coop]ative 9 accordance ) p>agraph    
7#ce7--  7,i7 a sell] ( ! small bus9ess 
conc]n may rema9 involv$ z an (fic]1    
director1 or key employee ( ! small     
bus9ess conc]n :5 a qualifi$ employee   
tru/ or coop]ative has acquir$ #ajj     
p]c5t ( own]%ip ( ! small bus9ess       
conc]n2 &  7,,ii7 any sell] ( ! small   
bus9ess conc]n :o rema9s z an own] ( !  
small bus9ess conc]n1 reg>dless ( !     
p]c5tage ( own]%ip int]e/1 may be       
requir$ to provide a p]sonal gu>antee by
 ! ,adm9i/ration4  2 &  7,c7 by add+ at 
! end ! foll[+3  7,f7 ,a small bus9ess  
conc]n t makes a loan to a qualifi$     
employee tru/ "u subp>agraph 7,a77ii7 is
 n requir$ to conta9 ! same t]ms &      
conditions z ! loan made to ! small     

bus9ess conc]n t is gu>ante$ by !       
,adm9i/ration "u su* subp>agraph4  7,g7 
,! ,adm9i/ration %all n require a       
qualifi$ employee tru/ or any memb] ( ! 
tru/ to provide a p]sonal gu>antee on a 
loan gu>ante$ "u ?is p>agraph unless any
 s+le memb] ( ! tru/ has m ?an a #bj    
p]c5t own]%ip %>e 9 ! tru/4  7,h7 ,)    
respect to a loan made to a qualifi$    
employee tru/ "u ?is p>agraph1 or to a  
coop]ative 9 accordance ) p>agraph      
7#ce71 ! ,adm9i/rator may1 z deem$      
appropriate1 elect to n require any     
m&atory equity to be provid$ by !       
qualifi$ employee tru/ or coop]ative to 
make ! loan4  2 &  7#b7 by add+ at ! end
 ! foll[+3  7#ce7 ,loans to coop]atives 
7,a7 ,def9ition ,9 ?is p>agraph1 ! t]m  
coop]ative means a corporation--  7i7 t 
is det]m9$ to be a coop]ative by !      
,adm9i/rator1 9 accordance ) applicable 
,f$]al & ,/ate laws & regulations2 &    
7ii7 9 :i* employees are eligible =     
memb]%ip4  7,b7 ,au?ority ,!            
,adm9i/ration %all gu>antee loans made  

to a coop]ative = ! purpose describ$ 9  
p>agraph 7#ae74  7,c7 ,no gu>antee ,)   
respect to a coop]ative t is =m$ ?r\gh a
 transf] ( own]%ip1 ! ,adm9i/rator may1 
z deem$ appropriate1 waive ! requirem5t 
= a gu>antee on a loan gu>ante$ "u ?is  
p>agraph unless any s+le memb] ( !      
coop]ative has m ?an a #bj p]c5t own]%ip
 %>e 9 ! coop]ative4  4  7b7 ,delegation
 ( au?ority to pref]r$ l5d]s ,section   
#e7;b77#g7 ( ! ,small ,bus9ess ,act 7#ae
 ,u4,s4,c4 #fcd7;b77#g77 is am5d$ by    
ins]t+ 1 includ+ loans gu>ante$ "u      
p>agraph 7#ae7 or 7#ce7 ( section #g7;a7
 aft] def]r$ p>ticipation loans4  #d4   
,small bus9ess inve/m5t company program 
outrea* ,! ,adm9i/rator %all e/abli% an 
outrea* program ) companies lic5s$ "u   
section #cja7;c7 ( ! ,small ,bus9ess    
,inve/m5t ,act ( #aieh 7#ae ,u4,s4,c4   
#fha7;c77 to increase ! use ( funds to  
make inve/m5ts 9 company transitions to 
employee-own$ bus9ess conc]ns4  #e4     
,small bus9ess microloan program outrea*
 ,! ,adm9i/rator %all e/abli% an outrea*

 program ) int]m$i>ies "u section #g7m7 
( ! ,small ,bus9ess ,act 7#ae ,u4,s4,c4 
#fcf7m77 to increase ! use ( funds to   
make loans to employee-own$ bus9ess     
conc]ns1 includ+ transitions to         
employee-own$ bus9ess conc]ns4  #f4     
,small bus9ess developm5t c5t] outrea* &
 assi/ance  7a7 ,e/abli%m5t ,!          
,adm9i/rator %all e/abli% a ,small      
,bus9ess ,employee ,own]%ip &           
,coop]atives ,promotion ,program to (f] 
te*nical assi/ance & tra9+ on !         
transition to employee own]%ip ?r\gh    
coop]atives & qualifi$ employee tru/s4  
7b7 ,small bus9ess developm5t c5t]s     
7#a7 ,9 g5]al ,9 c>ry+ out ! program    
e/abli%$ "u subsection 7a71 !           
,adm9i/rator %all ent] into agreem5ts ) 
small bus9ess developm5t c5t]s "u :i* ! 
c5t]s %all--  7,a7 provide access to    
in=mation & res\rces on employee own]%ip
 ?r\gh coop]atives or qualifi$ employee 
tru/s z a bus9ess succession /rategy2   
7,b7 conduct tra9+ & educational        
activities2 &  7,c7 c>ry out !          

activities describ$ 9 subp>agraph 7,u7 (
 section #ba7;c77#c7 ( ! ,small ,bus9ess
 ,act 7#ae ,u4,s4,c4 #fdh7;c77#c774     
7#b7 ,additional s]vices ,section       
#ba7;c77#c7 ( ! ,small ,bus9ess ,act    
7#ae ,u4,s4,c4 #fdh7;c77#c77 is am5d$-- 
7,a7 9 subp>agraph 7,s71 by /rik+ & at !
 end2  7,b7 9 subp>agraph 7,t71 by /rik+
 ! p]iod at ! end & ins]t+ 2 &2 &  7,c7 
by add+ at ! end ! foll[+3  7,u7        
enc\rag+ & assi/+ ! provision (         
succession plann+ to small bus9ess      
conc]ns ) a focus on transition+ to     
coop]atives1 z def9$ 9 section          
#g7;a77#ce71 & qualifi$ employee tru/s  
7collectively ref]r$ to 9 ?is           
subp>agraph z employee-own$ bus9ess     
conc]ns71 includ+ by--  7i7 provid+     
tra9+ to individuals to promote !       
successful managem5t1 gov]nance1 or     
op]ation ( a bus9ess pur*as$ by ^?      
individuals 9 ! =mation ( an            
employee-own$ bus9ess conc]n2  7ii7     
assi/+ employee-own$ bus9ess conc]ns t  
meet applicable size /&>ds e/abli%$ "u  

section #c7;a7 ) education & te*nical   
assi/ance ) respect to f9anc+ &         
contract+ programs adm9i/]$ by !        
,adm9i/ration2  7iii7 coord9at+ ) l5d]s 
on conduct+ outrea* on f9anc+ ?r\gh     
programs adm9i/]$ by ! ,adm9i/ration t  
may be us$ to support ! transition (    
own]%ip to employees2  7iv7 support+    
small bus9ess conc]ns 9 explor+ or      
assess+ ! possibility ( transition+ to  
an employee-own$ bus9ess conc]n2 &  7v7 
coord9at+ ) ! coop]ative developm5t     
c5t]s ( ! ,dep>tm5t ( ,agriculture1 ! l&
 grant ext5sion network1 ! ,manufactur+ 
,ext5sion ,p>tn]%ip1 community          
developm5t f9ancial in/itutions1        
employee own]%ip associations & s]vice  
provid]s1 & local1 regional & national  
coop]ative associations4  4  #g4        
,int]ag5cy work+ gr\p  7a7 ,9 g5]al ,n  
lat] ?an #ij days aft] ! date ( enactm5t
 ( ?is ,act1 ! ,adm9i/rator 7or a       
designee ( ! ,adm9i/rator7 %all         
coord9ate & *air an int]ag5cy work+     
gr\p1 :i* %all--  7#a7 develop          

recomm5dations on h[ ,f$]al programs c  
promote1 support1 & increase ! numb] (  
employee-own$ bus9ess conc]ns2  7#b7    
ensure coord9ation ) ,f$]al ag5cies &   
national & local employee own]%ip1      
coop]ative1 & small bus9ess             
organizations2 &  7#c7 submit an annual 
report to ,congress on ! activities ( ! 
int]ag5cy work+ gr\p4  7b7 ,meet+s ,!   
int]ag5cy work+ gr\p %all meet at su*   
times z det]m9$ necess>y by !1 b n less 
?an biannually4 ,su* meet+s may occur 9 
p]son or via electronic res\rces4  #h4  
,am5dm5t to report to ,congress on /atus
 ( employee-own$ firms ,section         
#g7;a77#ae77;,e7 ( ! ,small ,bus9ess    
,act 7#ae ,u4,s4,c4 #fcf7;a77#ae77;,e77 
is am5d$ by /rik+ ,adm9i/ration4 &      
ins]t+ ,adm9i/ration1 :i* %all include--
 7i7 ! total numb] ( loans made to      
employee-own$ bus9ess conc]ns t 7       
gu>ante$ by ! ,adm9i/rator "u section   
#g7;a7 ( ! ,small ,bus9ess ,act 7#ae    
,u4,s4,c4 #fcf7;a77 or section #ejb ( ! 
,small ,bus9ess ,inve/m5t ,act ( #aieh  

7#ae ,u4,s4,c4 #fif71 includ+ ! numb] ( 
loans made--  7,i7 to small bus9ess     
conc]ns own$ & controll$ by socially &  
economically disadvantag$ individuals2 &
  7,,ii7 to coop]atives 9 :i* employees 
are eligible = memb]%ip2 &  7ii7 ! total
 numb] ( f9anc+s made to employee-own$  
bus9ess conc]ns by companies lic5s$ "u  
section #cja7;c7 ( ! ,small ,bus9ess    
,inve/m5t ,act ( #aieh 7#ae ,u4,s4,c4   
#fif7;c771 includ+ ! numb] ( f9anc+s    
made--  7,i7 to small bus9ess conc]ns   
own$ & controll$ by socially &          
economically disadvantag$ individuals2 &
  7,,ii7 to coop]atives 9 :i* employees 
are eligible = memb]%ip2 &  7iii7 any   
outrea* & educational activities        
conduct$ by ! ,adm9i/ration ) respect to
 employee-own$ bus9ess conc]ns4  4