ESOP Act

This bill changes a Department of Defense pilot program that encourages contracting with businesses owned by their employees. Currently, a business must have 100 percent of its outstanding stock held through an employee stock ownership plan (ESOP) to qualify. The bill would lower that requirement so a business qualifies if not less than 30 percent of its stock is held through an ESOP. It also replaces the term "wholly-owned" with "owned" throughout the program's law.

Full text and official record on Congress.gov

Sponsors

• Cory Mills Republican sponsor
• 0 cosponsors