S.3421 - WORK Act
A bill to establish an Employee Ownership and Participation Initiative, and for other purposes.
Loading Bill Text
Rollover any line of text to comment and/or link to it.
Mr. SANDERS (for himself, Mr. LEAHY, Mr. BROWN of Ohio, Mr. BLUMENTHAL, and Mr. AKAKA) introduced the following bill; which was read twice and referred to the Committee on Health, Education, Labor, and PensionsCommentsClose CommentsPermalink
SECTION 1. SHORT TITLE.
SEC. 2. WORKER OWNERSHIP, READINESS, AND KNOWLEDGE.
(1) EXISTING PROGRAM- The term ‘existing program’ means a program, designed to promote employee ownership and employee participation in business decisionmaking, that exists on the date the Secretary is carrying out a responsibility authorized by this section.CommentsClose CommentsPermalink
(3) NEW PROGRAM- The term ‘new program’ means a program, designed to promote employee ownership and employee participation in business decisionmaking, that does not exist on the date the Secretary is carrying out a responsibility authorized by this section.CommentsClose CommentsPermalink
(1) ESTABLISHMENT- The Secretary of Labor shall establish within the Employment and Training Administration of the Department of Labor an Employee Ownership and Participation Initiative to promote employee ownership and employee participation in business decisionmaking.CommentsClose CommentsPermalink
(ii)(I) acting as a clearinghouse on techniques employed by new programs and existing programs within the States, and disseminating information relating to those techniques to the programs; orCommentsClose CommentsPermalink
(II) funding projects for information gathering on those techniques, and dissemination of that information to the programs, by groups outside the Employment and Training Administration; andCommentsClose CommentsPermalink
(B) facilitate the formation of new programs, in ways that include holding or funding an annual conference of representatives from States with existing programs, representatives from States developing new programs, and representatives from States without existing programs.CommentsClose CommentsPermalink
(1) ESTABLISHMENT OF PROGRAM- Not later than 180 days after the date of enactment of this Act, the Secretary shall establish a program to encourage new and existing programs within the States, designed to foster employee ownership and employee participation in business decisionmaking throughout the United States.CommentsClose CommentsPermalink
(A) providing education and outreach to inform employees and employers about the possibilities and benefits of employee ownership, business ownership succession planning, and employee participation in business decisionmaking, including providing information about financial education, employee teams, open-book management, and other tools that enable employees to share ideas and information about how their businesses can succeed;CommentsClose CommentsPermalink
(B) providing technical assistance to assist employee efforts to become business owners, to enable employers and employees to explore and assess the feasibility of transferring full or partial ownership to employees, and to encourage employees and employers to start new employee-owned businesses;CommentsClose CommentsPermalink
(C) training employees and employers with respect to methods of employee participation in open-book management, work teams, committees, and other approaches for seeking greater employee input; andCommentsClose CommentsPermalink
(iii) assist in the funding of objective third-party feasibility studies and preliminary business valuations, and in selecting and monitoring professionals qualified to conduct such studies; andCommentsClose CommentsPermalink
(4) GUIDANCE- The Secretary shall issue formal guidance, for recipients of grants awarded under subsection (d) and one-stop partners affiliated with the statewide workforce investment systems described in section 106 of the Workforce Investment Act of 1998 (
(1) IN GENERAL- In carrying out the program established under subsection (c), the Secretary may make grants for use in connection with new programs and existing programs within a State for any of the following activities:CommentsClose CommentsPermalink
(E) Training as provided in subsection (c)(2)(D) for new programs provided by participants in existing programs dedicated to the objectives of this section, except that, for each fiscal year, the amount of the grants made for such training shall not exceed 10 percent of the total amount of the grants made under this section.CommentsClose CommentsPermalink
(2) AMOUNTS AND CONDITIONS- The Secretary shall determine the amount and any conditions for a grant made under this subsection. The amount of the grant shall be subject to paragraph (6), and shall reflect the capacity of the applicant for the grant.CommentsClose CommentsPermalink
(3) APPLICATIONS- Each entity desiring a grant under this subsection shall submit an application to the Secretary at such time, in such manner, and accompanied by such information as the Secretary may reasonably require.CommentsClose CommentsPermalink
(4) STATE APPLICATIONS- Each State may sponsor and submit an application under paragraph (3) on behalf of any local entity consisting of a unit of State or local government, State-supported institution of higher education, or nonprofit organization, meeting the requirements of this section.CommentsClose CommentsPermalink
(A) ENTITY APPLICATIONS- If a State fails to support or establish a program pursuant to this section during any fiscal year, the Secretary shall, in the subsequent fiscal years, allow local entities described in paragraph (4) from that State to make applications for grants under paragraph (3) on their own initiative.CommentsClose CommentsPermalink
(B) APPLICATION SCREENING- Any State failing to support or establish a program pursuant to this section during any fiscal year may submit applications under paragraph (3) in the subsequent fiscal years but may not screen applications by local entities described in paragraph (4) before submitting the applications to the Secretary.CommentsClose CommentsPermalink
(7) ANNUAL REPORT- For each year, each recipient of a grant under this subsection shall submit to the Secretary a report describing how grant funds allocated pursuant to this subsection were expended during the 12-month period preceding the date of the submission of the report.CommentsClose CommentsPermalink
(e) Evaluations- The Secretary is authorized to reserve not more than 10 percent of the funds appropriated for a fiscal year to carry out this section, for the purposes of conducting evaluations of the grant programs identified in subsection (d) and to provide related technical assistance.CommentsClose CommentsPermalink
(f) Reporting- Not later than the expiration of the 36-month period following the date of enactment of this Act, the Secretary shall prepare and submit to Congress a report--CommentsClose CommentsPermalink
(2) ADMINISTRATIVE EXPENSES- There are authorized to be appropriated for the purpose of funding the administrative expenses related to the Initiative, for each of fiscal years 2013 through 2017, an amount not in excess of--CommentsClose CommentsPermalink