,,ii  #aaf? ,,congress  #b;d ,session   
,s4 #dbcf  ,,9 ,,! ,,s5ate ,,( ,,!      
,,unit$ ,,/ates  ,july #ba1 #bjbj,mr4   
,johnson 7= himself & ,ms4 ,baldw97     
introduc$ ! foll[+ bill2 :i* 0 read     
twice & ref]r$ to ! ,committee on       
,f9ance  ,a ,,bill  ,to e/abli% a grant 
program to enc\rage ! creation &        
expansion ( employee /ock own]%ip plans4
  #a4 ,%ort title ,?is ,act may be cit$ 
z ! ,tempor>y ,f$]al ,,esop ,grant      
,program ,act ( #bjbj4  #b4 ,grant      
program  7a7 ,e/abli%m5t ,n lat] ?an #cj
 days aft] ! date ( ! enactm5t ( ?is    
,act1 ! ,secret>y ( ! ,treasury %all    
e/abli% ! ,tempor>y ,f$]al ,employee    
,/ock ,own]%ip ,plan ,program1 or !     
,tempor>y ,f$]al ,,esop ,program1 to    
provide grants to eligible bus9ess      
conc]ns = purposes (-- 7#a7 e/abli%+2 or
  7#b7 increas+ ! p]c5tage ( ! eligible 
bus9ess conc]n own$ by2  an employee    
/ock own]%ip plan 7z def9$ 9 section    
#dige7;e77#g7 ( ! ,int]nal ,rev5ue ,code
 ( #aihf74  7b7 ,eligible bus9ess conc]n

 ,= purposes ( ?is section1 ! t]m       
eligible bus9ess conc]n means a bus9ess 
conc]n t submits ) ! grant application--
 7#a7 a complet$ agreem5t sign$ by !    
bus9ess conc]n & an employee /ock       
own]%ip tru/-- 7,a7 e/abli%+ an employee
 /ock own]%ip plan 7z def9$ 9 section   
#dige7;e77#g7 ( ! ,int]nal ,rev5ue ,code
 ( #aihf7 :i* is a tax cr$it employee   
/ock own]%ip plan meet+ ! requirem5ts ( 
section #dji ( ! ,int]nal ,rev5ue ,code 
( #aihf2 or  7,b7 increas+ ! p]c5tage ( 
! bus9ess conc]n own$ by su* a plan1 if 
su* plan is already 9 exi/5ce2  7#b7    
support+ docum5tation = ! valuation ( ! 
bus9ess conc]n z det]m9$ = purposes (   
su* agreem5t by an indep5d5t valuation  
exp]t utiliz+ g5]ally accept$ valuation 
approa*es 7z det]m9$ by ! ,secret>y ( ! 
,treasury71 or by ! tru/ee ( ! employee 
/ock own]%ip tru/ if su* valuation is   
c]tifi$ by su* an indep5d5t valuation   
exp]t1 includ+ fil+s to ! ,int]nal      
,rev5ue ,s]vice or ! ,securities &      
,ex*ange ,commission1 z applicable2 &   

7#c7 a c]tification t ! grant funds w be
 us$ t[>d ! pur*ase ( employ]           
securities1 & t ! r$uction 9 co/ to !   
bus9ess conc]n attributable to ! grant  
funds w be us$ = capital inve/m5t 9 or  
replacem5t & ma9t5ance ( fix$ assets1   
includ+ manufactur+ equipm5t & tools1   
comput]s1 l&1 build+s1 facilities1 heal?
 & safety equipm5t1 & o!r simil>        
inve/m5ts4  7c7 ,grant aw>ds ,bas$ on a 
det]m9ation made )9 #ae bus9ess days f !
 date ( submission ( an application     
meet+ ! requirem5ts ( subsection 7b71 ! 
,secret>y ( ! ,treasury %all aw>d a     
grant "u ! ,tempor>y ,f$]al ,,esop      
,program to a bus9ess conc]n 9 an am\nt 
n to exce$ ! sum (-- 7#a7 #bj1jjj p]    
employee-- 7,a7 :o is a p>ticipant 9 !  
employee /ock own]%ip tru/ e/abli%$ by  
su* bus9ess conc]n2 or  7,b7 ^: own]%ip 
%>e 9 su* bus9ess conc]n by reason ( an 
exi/+ employee /ock own]%ip tru/ is     
increas$2  7#b7 #ej1jjj = any co/s      
incurr$ by ! bus9ess conc]n & employee  
/ock own]%ip tru/1 & docum5t$ 9 ! grant 

application1 9 develop+ ! agreem5t      
requir$ "u subsection 7b77#a74  7d7     
,t]m9ation ,no grant %all be aw>d$ "u ! 
,tempor>y ,f$]al ,,esop ,program aft]   
,septemb] #cj1 #bjbb4  7e7 ,au?oriz$    
transf] ( appropriations ,! ,secret>y ( 
! ,treasury may transf] any unobligat$  
am\nt ( ! appropriation "u section #djbg
 ( ! ,coronavirus ,economic             
,/abilization ,act ( #bjbj = ! purposes 
( c>ry+ out ! ,tempor>y ,f$]al ,,esop   
,program4  7f7 ,secret>y ( ! ,treasury  
,= purposes ( ?is section1 any ref]5ce  
to ! ,secret>y ( ! ,treasury includes a 
ref]5ce to any delegate ( su* ,secret>y4