S. 1538 — Introduced in Senate

II 115th CONGRESS 1st Session S. 1538 IN THE SENATE OF THE UNITED STATES July 12, 2017Mr. Peters (for himself and Mr. Risch) introduced the following bill; which was read twice and referred to the Committee on Small Business and Entrepreneurship A BILL To amend the Small Business Act to establish awareness of, and technical assistance for, the creation of employee stock ownership plans, and for other purposes. 1. Short title This Act may be cited as the Small Business Employee Ownership Promotion Enhancement Act of 2017. 2. SCORE program assistance Section 8(b)(1)(B) of the Small Business Act (15 U.S.C. 637(b)(1)(B)) is amended— (1) by inserting (i) after (B); (2) in clause (i), as so designated, in the first sentence, by striking (SCORE) and inserting (referred to in this subparagraph as SCORE); and (3) by adding at the end the following: (ii) SCORE shall appoint an individual to serve as the SCORE Employee Ownership Director— (I) whose duties shall relate to the various forms of employee ownership; (II) who shall be responsible for— (aa) administering and disbursing materials that contain general information and technical assistance with respect to the establishment of employee ownership structures; (bb) coordinating efforts with respect to employee ownership with the chapters of SCORE located throughout the United States; (cc) providing technical assistance relating to a range of business forms and strategies that promote or facilitate employee ownership, including— (AA) an employee stock ownership plan; (BB) a cooperative; and (CC) any other approach determined appropriate by the SCORE Employee Ownership Director; and (dd) providing the Administrator and the Office of Entrepreneurial Development with statistics, including regional statistics from a chapter of SCORE, relating to services provided to small business concerns potentially undertaking a form of employee ownership; and (III) who may be an employee of the Administration as of the date on which the appointment is made. .