S. 2786: Main Street Employee Ownership Act of 2018

115th Congress · introduced 2018-04-26 · Commerce · Latest: Read twice and referred to the Committee on Small Business and Entrepreneurship.

federal

Follow this bill, step by step

Where it came from: introduced 2018-04-26 · official record
Who proposed it: Sen. Gillibrand, Kirsten E. [D-NY] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Read twice and referred to the Committee on Small Business and Entrepreneurship. Not final yet: this can still change. We check for updates every day.
If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.

What does this mean?

Official title

Main Street Employee Ownership Act of 2018

Plain summary

Main Street Employee Ownership Act of 2018 This bill amends the Small Business Act to expand the authority of the Small Business Administration (SBA) to guarantee loans for qualified employee trusts of a small business to purchase the stock of that business. Specifically, the bill allows the guaranteed loan to also cover transactions costs associated with purchasing the stock. In addition, it allows loans to a small business to be guaranteed if the loan proceeds will: (1) be used to provide loans to a qualified employee trust of the small business to purchase the business's stock, and (2) result in the trust owning at least 51% of the business's stock. The SBA must guarantee loans to cooperatives in which employees are eligible for membership for such stock purchases. The SBA shall: (1) provide outreach and educational materials to licensed small business investment companies to increase investment in transitions to employee-owned businesses, and (2) establish a Small Business Employee Ownership and Cooperative Promotion Program to offer technical assistance and training on the transition to employee ownership through cooperatives and qualified employee trusts. The Administrator of the SBA shall coordinate an interagency working group on employee-owned businesses.

Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.

What a vote does

A “Yea” vote

If it passes both chambers and is signed, it becomes law.

A “Nay” vote

If it is not passed, current law stays as it is.

PSI Sci description of the legislative step (not an opinion).

What does this mean? (plain words)

Official text

Main Street Employee Ownership Act of 2018

Source: Congressional Research Service summary (Introduced in Senate)

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Sen. Gillibrand, Kirsten E. [D-NY] · 6 cosponsors

Cost estimate: No cost estimate published yet.

Cosponsors on this site

Todd Young (R-IN), James E. Risch (R-ID), Jeanne Shaheen (D-NH), Cory A. Booker (D-NJ), Susan M. Collins (R-ME)

Sponsor's campaign money: Sen. Gillibrand, Kirsten E. [D-NY] reported raising $3.5 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.

No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.

Words on this page, explained (1)

Bill: A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).

Plain meanings written from linked sources. All words.

Sources

Congressional Research Service summary (Introduced in Senate)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-115s2786.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/115/s>

Record fed-us-cong115-s2786 · catalog fed-us-congress-bills-cong115 · updated 2026-11-15 by psicol fed-bills-cong115