1998 Session

Budget Amendments - SB30 (Committee Approved)

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Employee Stock Ownership Plans (language only)

Item 95 #9s

Item 95 #9s

Commerce And Trade
Business Assistance, Department of

Page 68 after line 33, insert "E.  The Department of Business Assistance, in conjunction with the Commonwealth Competition Council, 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 Department of Business Assistance.  A report of the findings and recommendations shall be made to the Governor and the 1999 General Assembly."

(This amendment directs the Department of Business Assistance to study the feasibility, including costs, for promoting ESOPs through information, education, and technical services to business and employee groups. The Commonwealth Competition Council would assist the Department in the study.)