American Ownership and Resilience Act

The American Ownership and Resilience Act establishes a licensing program for "ownership investment companies" that provide capital to help create employee stock ownership plans (ESOPs) and worker-owned cooperatives. The bill creates a Department of Commerce facility to provide leverage (up to $500 million per company) to licensed investment firms that make investments resulting in ESOPs or worker cooperatives holding majority ownership in covered business concerns. Key provisions require independent financial advisors and trustees for transactions, prohibit employee financing of investments, and mandate annual reporting on demographic data of participants. The program has a sunset provision ending 20 years after the first license is issued, with strict requirements for oversight and reporting to ensure investments align with worker ownership goals.