S. 1645 explained · 119th Congress · Pending in Congress
American Ownership and Resilience Act
Cosponsors: 8 (4 D, 4 R) · per Congress.gov, 2026-10-11
Introduced: 2025-05-07
Latest action (2025-05-07): Read twice and referred to the Committee on Finance.
What S. 1645 does, in plain terms
American Ownership and Resilience Act This bill creates an investment facility to support the conversion of private businesses into employee-owned businesses. Specifically, the Department of Commerce must establish an investment facility that provides leverage to ownership investment companies (OICs) licensed by Commerce. Under the bill, OICs manage capital for the purpose of financing the sale of a private business to an employee stock ownership plan (ESOP) or eligible worker-owned cooperative, have the authority to borrow money and issue securities or other obligations to finance the sale, and have the full faith and credit of the United States to guarantee the payment of all such amounts. In a sale to an ESOP, an independent trustee must be appointed to obtain a fairness opinion on the investment from an independent financial advisor. New OICs may be mentored by other OICs through the Protégé OIC program established by the bill. The bill also establishes private capital requirements, third-party debt limitations, and enforcement provisions.
Official summary by the Congressional Research Service, via Congress.gov.
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