This bill establishes a new position called the Advocate for Employee Ownership within the Department of Labor's Employee Ownership Initiative. The advocate will serve as a liaison between the Labor Department, workers, employers, and other stakeholders to promote employee ownership programs, particularly employee stock ownership plans (ESOPs). The advocate's responsibilities include educating the public about employee ownership benefits, helping resolve disputes between the department and ESOP sponsors, recommending policy changes to expand employee ownership, and coordinating with other federal agencies and state governments on outreach efforts. The bill requires the advocate to submit annual reports to Congress describing assistance requests, activities, problems identified, and recommendations for expanding employee ownership practices. The advocate will be compensated at the same level as a high-ranking federal executive position, with funding authorized as necessary to support the office.
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