Advocate for Employee Ownership Act

This bill establishes an "Advocate for Employee Ownership" within the Department of Labor to promote employee ownership models, primarily affecting workers, employers, and employee stock ownership plan (ESOP) participants. The advocate will serve as a liaison between stakeholders, provide public education on ESOPs, help resolve disputes involving ESOPs, and recommend policy changes to expand employee ownership. The role requires annual reports to Congress detailing activities, challenges, and recommendations for improving employee ownership practices. The position, compensated at a senior executive pay level, will coordinate with agencies like the Small Business Administration and Treasury to advance outreach on employee ownership as a business succession option.