Bill > SB0175

This bill establishes an Employee-Owned Business Resource Center (center) within Indiana's state department to support and promote employee ownership. The center will provide comprehensive services including education about employee ownership benefits, technical assistance for employees seeking to start employee-owned businesses or for business owners considering transferring ownership to employees, training on employee participation methods, and creating a referral service to connect business owners and employees with professional advisors. Additionally, the bill creates an Employee Ownership Revolving Loan Fund, which will be financed through state appropriations, loan repayments, donations, and other sources, to provide low-interest loans that promote employee ownership succession or the creation of new employee-owned businesses. The center will be responsible for administering the loan program, conducting research on employee ownership, and developing rules to implement its responsibilities. The loan fund's money will be invested by the state treasurer, and any unspent funds will not revert to the general fund at the end of each fiscal year, ensuring continuous support for employee ownership initiatives.

Business and Industry

https://iga.in.gov/legislative/2025/bills/senate/175/details