American Ownership and Resilience Act
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
The bill establishes key definitions for the Ownership Investment Facility program, defining terms like ownership investment company, covered investment, ESOP, worker-owned cooperative, independent trustee, leverage, and private, establishes a $5 billion per year federal loan guarantee facility administered by the Department of Commerce to provide leverage to licensed Ownership Investment Companies for financing ESOPs and worker-owned, and establishes organizational requirements and licensing procedures for Ownership Investment Companies, including 90-day application review periods, track record requirements, and eligibility for RIC tax treatment. It relies on compliance mandates, loan guarantees, reporting requirements, and exemptions. The main policy areas are Finance, Business Finance, and Labor.
Who Benefits and How
Licensed OICs could see lower costs, Private equity firms seeking OIC licenses could gain revenue opportunities, and Independent ESOP trustees could gain revenue opportunities.
Who Bears the Burden and How
Licensed OICs would take on compliance duties, Federal taxpayers could face increased risk, and Smaller investment firms could face higher barriers.
Key Provisions
- Establishes key definitions for the Ownership Investment Facility program, defining terms like ownership investment company, covered investment, ESOP, worker-owned cooperative, independent trustee, leverage, and private...
- Establishes a $5 billion per year federal loan guarantee facility administered by the Department of Commerce to provide leverage to licensed Ownership Investment Companies for financing ESOPs and worker-owned...
- Establishes organizational requirements and licensing procedures for Ownership Investment Companies, including 90-day application review periods, track record requirements, and eligibility for RIC tax treatment.
- Creates a Protege OIC Program allowing experienced OIC managers to mentor emerging OICs with increased leverage caps as incentive.
- Establishes $10 million minimum private capital requirement for OIC licensees.
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
The bill establishes key definitions for the Ownership Investment Facility program, defining terms like ownership investment company, covered investment, ESOP, worker-owned cooperative, independent trustee, leverage, and private, establishes a $5 billion per year federal loan guarantee facility administered by the Department of Commerce to provide leverage to licensed Ownership Investment Companies for financing ESOPs and worker-owned, and establishes organizational requirements and licensing procedures for Ownership Investment Companies, including 90-day application review periods, track record requirements, and eligibility for RIC tax treatment.
Key Policy Areas
Finance, Business Finance, Labor
Primary Purpose
The bill establishes key definitions for the Ownership Investment Facility program, defining terms like ownership investment company, covered investment, ESOP, worker-owned cooperative, independent trustee, leverage, and private, establishes a $5 billion per year federal loan guarantee facility administered by the Department of Commerce to provide leverage to licensed Ownership Investment Companies for financing ESOPs and worker-owned, and establishes organizational requirements and licensing procedures for Ownership Investment Companies, including 90-day application review periods, track record requirements, and eligibility for RIC tax treatment.
Policy Domains
Whole Act - Ownership Investment Facility
Identified Gains
- Licensed OICs
- Private equity firms seeking OIC licenses
- Independent ESOP trustees
- Established OIC managers
- Emerging investment managers
Identified Costs
- Licensed OICs
- Federal taxpayers
- Smaller investment firms
- OIC officers and directors
- Department of Commerce
Sponsors
Legislative Progress
In CommitteeMr. Van Hollen (for himself, Mr. Moran, Ms. Baldwin, Mr. …
Read twice and referred to the Committee on Finance.
Introduced in Senate
Stakeholder Effects
cui bono?How this legislation distributes effects. Mention counts reflect frequency, not effect magnitude.
Commercial banks partnering with OICs, Emerging investment managers, Established OIC managers
Licensed OICs faces effects in multiple directions
Positive-direction: Commercial banks partnering with OICs, Emerging investment managers, Established OIC managers, Investment banks, Large private equity firms, Private equity and investment management firms, Private equity firms seeking OIC licenses
Negative-direction: OIC officers and directors, Smaller investment firms
CPA firms, ESOP legal and advisory firms
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "the_secretary"
- → Secretary of Commerce
- "the_department"
- → Department of Commerce
Key Definitions
Terms defined in this bill
Debentures guaranteed by the Department of Commerce
An ownership investment company with managers having documented business experience but lacking an investment track record meeting standard requirements, selected under the mentorship program
Paid-in capital/surplus plus unfunded binding commitments, excluding borrowed funds, leverage, and most government funds
Capital provided to finance sale of ownership interest in a business to an ESOP or worker-owned cooperative resulting in majority ownership, or capital to existing ESOP/cooperative-owned businesses that maintains or increases employee ownership
A trustee that professionally serves as a fiduciary for ESOPs, has not worked for sellers or the business, and has no conflicts of interest
An independently owned and operated enterprise (any size), where investments by VCs, pension plans, foundations do not disqualify it
A company licensed by the Secretary to operate under this Act, where 100% of capital is invested in covered investments and at least 50% in ESOP/worker-cooperative conversions
A financial or valuation advisor without conflicts of interest who evaluates fairness of proposed transactions to ESOPs
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology