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Bill

A 5649

Relates to additional duties and reporting requirements of the advisory panel on employee-owned enterprises

2025 Regular Session Introduced by MaryJane Shimsky and 1 co-sponsor

Bill A 5649 enhances the advisory panel's role in promoting employee-owned businesses, ensuring better support, resources, and accountability for economic growth.

REFERRED TO ECONOMIC DEVELOPMENT
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Bill Summary · A 5649

Summary of Bill A 5649

Bill Number: A 5649
Title: Relates to additional duties and reporting requirements of the advisory panel on employee-owned enterprises
Status: Referred to Economic Development
Introduced: February 19, 2025
Classification: Bill

Purpose and Intent

Bill A 5649 aims to enhance the operational framework of the advisory panel on employee-owned enterprises. The bill seeks to establish additional duties and reporting requirements for the panel, thereby improving oversight and accountability in the promotion and support of employee-owned businesses.

Key Provisions

  • Expanded Duties: The bill outlines new responsibilities for the advisory panel, which may include:

    • Developing strategies to promote employee ownership models.
    • Providing guidance and resources to businesses considering transitioning to employee ownership.
    • Conducting outreach to educate stakeholders about the benefits of employee-owned enterprises.

  • Reporting Requirements: The advisory panel will be mandated to submit regular reports detailing:

    • The progress of initiatives aimed at fostering employee ownership.
    • Metrics on the impact of employee-owned enterprises on the local economy.
    • Recommendations for policy improvements to support employee ownership.

Affected Parties

  • Advisory Panel on Employee-Owned Enterprises: The panel will have increased responsibilities and will need to allocate resources to meet the new requirements.
  • Employee-Owned Businesses: These enterprises may benefit from enhanced support and resources as a result of the panel's expanded duties.
  • Potential Business Owners: Individuals and businesses considering transitioning to employee ownership will receive more guidance and support.

Procedural Aspects

  • The bill was introduced on February 19, 2025, and has been referred to the Economic Development committee for further consideration.
  • The timeline for further legislative action is currently undetermined, pending committee review and potential amendments.

Related Legislation

  • A 10513: This bill is related to prior-session legislation that may have addressed similar themes regarding employee ownership and the role of the advisory panel.

This summary provides an overview of Bill A 5649, highlighting its purpose, key provisions, and the parties that may be affected by its implementation. The bill represents a step towards strengthening the support for employee-owned enterprises, which can contribute positively to the economy and workforce.

Compiled from official sources — confirm details with the bill’s official record.

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