This bill makes it easier for employee-owned businesses to qualify for government contracts by lowering the required stock ownership percentage. This change could help more workers benefit from owning a part of their company.
If you work for an employee-owned business, this bill could help your company win more government contracts.
Who this affects
Employee-owned business workers · Families of workers
What changes is this bill making?
1This bill lowers the stock ownership requirement for employee-owned businesses.
2Businesses must now hold at least 30 percent of their stock through an employee stock ownership plan.
3The change applies to a pilot program for contracting with the Department of Defense.
4The bill updates language to reflect the new ownership percentage.
5It aims to encourage more employee-owned businesses to compete for government contracts.
