S1645Referred to Committee

American Ownership and Resilience Act

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Introduced
In Committee
3
Passed One Chamber
4
Passed Both
5
Signed into Law
119th
Congress
2025-05-07
Introduced
8
Cosponsors
S
ⓘ
Type

Sponsor

Chris Van Hollen
Chris Van Hollen
Democrat · MD · Senator
Votes with party: 85.6% (846 recorded votes)

Full profile: /officials/V000128

Source: Congress.gov · FEC

Cosponsors (8)

Members who have signed on to support this bill since introduction. Source: Congress.gov.

Latest Action

The most recent step in the bill's legislative path. Committee Activity below shows referrals and reports; the full action-by-action history including floor proceedings lives at Congress.gov →

Read twice and referred to the Committee on Finance.

2025-05-07

Source: Congress.gov

Committee Activity

Previously

Plain-English 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.

Plain-English rewrite of the Congressional Research Service summary published on Congress.gov. Cached and reviewed.

Subjects

Finance and Financial Sector
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