29 U.S.C. § 3228 Worker Ownership, Readiness, and Knowledge

• Library: United States Statutes
• Edition: 2023 Edition
• Currency: Current through P.L. 118-19 (published on www.congress.gov on 10/06/2023)

(a) Definitions

In this section:

(1) Existing program

The term "existing program" means a program, designed to promote employee ownership, that exists on the date on which the Secretary is carrying out a responsibility authorized under this section.

(2) Initiative

The term "Initiative" means the Employee Ownership Initiative established under subsection (b).

(3) New program

The term "new program" means a program, designed to promote employee ownership, that does not exist on the date on which the Secretary is carrying out a responsibility authorized under this section.

(4) Secretary

The term "Secretary" means the Secretary of Labor.

(5) State

The term "State" has the meaning given the term under section 3102 of this title.

(b) Employee Ownership Initiative

(1) Establishment

The Secretary shall establish within the Department of Labor an Employee Ownership Initiative to promote employee ownership.

(2) Functions

In carrying out the Initiative, the Secretary shall-

(A) support within the States existing programs designed to promote employee ownership; and

(B) facilitate within the States the formation of new programs designed to promote employee ownership.

(3) Duties

To carry out the functions enumerated in paragraph (2), the Secretary shall support new programs and existing programs by-

(A) making Federal grants authorized under subsection (d); and

(B)

(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; or

(ii) funding projects for information gathering on those techniques, and dissemination of that information to the programs, by groups outside the Department of Labor.

(4) Consultation with Treasury

The Secretary shall consult with the Secretary of the Treasury, or the Secretary's delegate, in the case of any employee ownership arrangements or structures the administration and enforcement of which are within the jurisdiction of the Department of the Treasury.

(c) Programs regarding employee ownership

(1) Establishment of program

Not later than 180 days after December 29, 2022, the Secretary shall establish a program to encourage new programs and existing programs within the States to foster employee ownership throughout the United States.

(2) Purpose of program

The purpose of the program established under paragraph (1) is to encourage new and existing programs within the States that focus on-