Bill > HR5778

This bill aims to improve the Small Business Administration's (SBA) engagement with and support of employee-owned businesses and cooperatives through several key provisions. First, it requires the SBA Administrator or a designated representative to attend working groups, meetings, and other engagements related to cooperatives or employee ownership when invited by other federal agencies, particularly those with which the SBA has an existing relationship. The bill also expands the SBA's outreach efforts for Small Business Investment Companies (SBICs) by directing communication not just to the companies themselves, but also to their investors and limited partners. Additionally, within 180 days of the bill's enactment, the SBA must implement outreach and assistance requirements through its Small Business Employee Ownership and Cooperatives Promotion Program, which is designed to provide resources and support to businesses interested in employee ownership models. The overall goal of the bill is to increase awareness, understanding, and support for employee-owned businesses by enhancing the SBA's involvement and educational efforts in this area.

Business and Industry

https://www.congress.gov/bill/119th-congress/house-bill/5778/all-info