ESOP Funding for SBA Position Act of 2025

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 2993 Introduced in House (IH)]

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119th CONGRESS
  1st Session
                                H. R. 2993

To establish a position in the Small Business Administration to provide 
    to small businesses assistance with establishing employee stock 
                ownership plans, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             April 24, 2025

  Mr. Case (for himself, Mr. Bresnahan, and Ms. Tlaib) introduced the 
 following bill; which was referred to the Committee on Small Business

_______________________________________________________________________

                                 A BILL


 
To establish a position in the Small Business Administration to provide 
    to small businesses assistance with establishing employee stock 
                ownership plans, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``ESOP Funding for SBA Position Act of 
2025''.

SEC. 2. ESTABLISHMENT OF ESOP SUPPORT POSITION.

    (a) In General.--There is established in the Administration a 
position in the competitive service (as such term is defined in section 
2102 of title 5, United States Code) which shall be appointed by the 
Administrator and responsible for providing small business concerns 
assistance with establishing employee stock ownership plans.
    (b) Responsibilities.--The responsibilities of the position 
established under subsection (a) include--
            (1) providing guidance to small business concerns on 
        establishing employee stock ownership plans, including tax 
        treatment of such plans, regulatory compliance, stock 
        valuation, and opportunities to acquire funding to establish 
        such a plan;
            (2) coordinating with relevant public and private entities 
        to provide assistance and resources for establishing employee 
        stock ownership plans that are tailored for small business 
        concerns;
            (3) coordinating with the relevant personnel at the 
        Department of Labor to assist small business concerns 
        establishing employee stock ownership plans with compliance 
        with all relevant regulatory requirements;
            (4) advocating for appropriate guidance from relevant 
        Federal agencies, including the Department of Labor, regarding 
        regulations relating to establishing and maintaining employee 
        stock ownership plans, including regulations regarding stock 
        valuation and employee ownership; and
            (5) such other responsibilities as determined appropriate 
        by the Administrator.

SEC. 3. REPORTING.

    Not later than one year after the date of the enactment of this 
Act, and annually thereafter, the Administrator shall submit to 
Congress a report on the activities of the position established under 
section 2(a), including the number of small business concerns that have 
received assistance from such position, the types of assistance and 
resources provided to small business concerns by such position, and any 
policy recommendations for improving the process for small business 
concerns to establish and maintain employee stock ownership plans.

SEC. 4. DEFINITIONS.

    In this Act:
            (1) Administration.--The term ``Administration'' means the 
        Small Business Administration.
            (2) Administrator.--The term ``Administrator'' means the 
        Administrator of the Administration.
            (3) Employee stock ownership plan.--The term ``employee 
        stock ownership plan'' has the meaning given such term in 
        section 4975(e)(7) of the Internal Revenue Code of 1986 (26 
        U.S.C. 4975(e)(7)).
            (4) Small business concern.--The term ``small business 
        concern'' has the meaning given such term under section 3 of 
        the Small Business Act (15 U.S.C. 632).

SEC. 5. AUTHORIZATION OF APPROPRIATIONS.

    There is authorized to be appropriated such sums as are necessary 
to carry out this Act, except that, for the fiscal year in which this 
Act is enacted, there is authorized $500,000 to carry out this Act.
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