1998 Session

Budget Amendments - HB30 (Conference Report)

View Budget Item
View Budget Item amendments

Employee Stock Ownership Plans (language only)

Item 53 #1c

Item 53 #1c

Administration, Secretary of

Page 28, line 8 insert "A." before "Out".
Page 28 after line 15, insert "B.  The Secretary of Administration, in conjunction with the Commonwealth Competition Council, the Department of Planning and Budget, and the Secretary of Finance, shall study the necessary resources, staffing, and other requirements, including the need for appropriate legislation, to establish an employee stock ownership plan (ESOP) information and resource service within the Executive Department.  A report of the findings and recommendations shall be made to the Governor and the 1999 General Assembly."

(This amendment directs the Secretary of Administration to study the feasibility, including costs, for promoting ESOPs through information, education, and technical services to business and employee groups. The Commonwealth Competition Council, Department of Planning and Budget, and Secretary of Finance will assist in the study.)