Sec. 4. Office of Employee Ownership
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Part A of title III of the Small Business Investment Act of 1958 (15 U.S.C. 681 et. seq.), as amended by section 3, is further amended by adding at the end the following: There is established in the Administration an Office of Employee Ownership (in this section referred to as the Office ) which shall be responsible for— developing expertise in employee stock ownership plans and eligible worker-owned cooperatives; and assisting small business concerns in processes relating to a sale of such concerns to an employee stock ownership plan or eligible worker-owned cooperative.
The Office shall— provide outreach and educational materials to small business investment companies about the facility established under section 321; maintain and publish a list of legal, accounting, or financial advisory firms with at least 5 years of experience in structuring employee stock ownership plans or eligible worker-owned cooperatives; establish a Small Business Employee Ownership and Cooperatives Promotion Program to offer technical assistance and training to employee-owned business concerns (as defined in section 21(c)(3)(U) of the Small Business Act ( 15 U.S.C. 648(c)(3)(U) ) on the transition to employee ownership; coordinate with small business development centers on implementing the requirements relating to employee-owned business concerns under section 21(c)(3) of the Small Business Act ( 15 U.S.C. 648(c)(3) ); and coordinate with leaders in the field, as determined by the Administrator, to develop outreach and educational materials on employee ownership in multiple languages. .
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