Section 1 Short title
This Act may be cited as the “Small Business Employee Ownership Promotion Enhancement Act of 2017”.
Small Business Employee Ownership Promotion Enhancement Act of 2017
A BILL
To amend the Small Business Act to establish awareness of, and technical assistance for, the creation of employee stock ownership plans, and for other purposes.
Sec. 2 SCORE program assistance
Section 8(b)(1)(B) of the Small Business Act (15 U.S.C. 637(b)(1)(B)) is amended—
by inserting “(i)” after “(B)”;
in clause (i), as so designated, in the first sentence, by striking “(SCORE)” and inserting “(referred to in this subparagraph as “SCORE”)”; and
by adding at the end the following:
“(ii) SCORE shall appoint an individual to serve as the SCORE Employee Ownership Director—
“(I) whose duties shall relate to the various forms of employee ownership;
“(II) who shall be responsible for—
“(aa) administering and disbursing materials that contain general information and technical assistance with respect to the establishment of employee ownership structures;
“(bb) coordinating efforts with respect to employee ownership with the chapters of SCORE located throughout the United States;
“(cc) providing technical assistance relating to a range of business forms and strategies that promote or facilitate employee ownership, including—
“(AA) an employee stock ownership plan;
“(BB) a cooperative; and
“(CC) any other approach determined appropriate by the SCORE Employee Ownership Director; and
“(dd) providing the Administrator and the Office of Entrepreneurial Development with statistics, including regional statistics from a chapter of SCORE, relating to services provided to small business concerns potentially undertaking a form of employee ownership; and
“(III) who may be an employee of the Administration as of the date on which the appointment is made.”