Install
American Ownership and Resilience Act
A bill to establish a domestic ownership investment facility, and for other purposes.
- Introduced
- Committee
- Passed Senate
- Passed House
- To President
- Became law
Summary
American Ownership and Resilience Act
This bill creates an investment facility to support the conversion of private businesses into employee-owned businesses.
Specifically, the Department of Commerce must establish an investment facility that provides leverage to ownership investment companies (OICs) licensed by Commerce.
Under the bill, OICs
- manage capital for the purpose of financing the sale of a private business to an employee stock ownership plan (ESOP) or eligible worker-owned cooperative,
- have the authority to borrow money and issue securities or other obligations to finance the sale, and
- have the full faith and credit of the United States to guarantee the payment of all such amounts.
In a sale to an ESOP, an independent trustee must be appointed to obtain a fairness opinion on the investment from an independent financial advisor.
New OICs may be mentored by other OICs through the Protégé OIC program established by the bill.
The bill also establishes private capital requirements, third-party debt limitations, and enforcement provisions.
Summary by the Congressional Research Service, Library of Congress.
Actions
- May 7, 2025 Read twice and referred to the Committee on Finance.
- May 7, 2025 Introduced in Senate
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