The Employee Equity Investment Act of 2023 creates a new federal program to help employees buy ownership stakes in their companies through employee stock ownership plans and worker-owned cooperatives. The bill establishes an Employee Equity Investment Facility within the Small Business Administration that will provide up to $5 billion in annual financing to investment companies specializing in these employee ownership transactions, with a maximum of $350 million available to any single investment company. The legislation affects small businesses, their employees, and investment firms seeking to facilitate ownership transitions, and it includes protections such as requiring independent trustees and financial advisors to ensure fair valuations and terms for employees. The program includes a twenty-year timeline, beginning when the first licenses are approved, and requires the SBA to start accepting applications within 180 days of enactment. Additionally, the bill modifies federal procurement rules to allow employee-owned businesses to maintain eligibility for government contracts reserved for women-owned, minority-owned, and veteran-owned businesses for two years after an ownership transition to employee ownership.