Maddy summaryThe Promotion and Expansion of Private Employee Ownership Act of 2023 aims to increase employee ownership in S corporations by making it easier for companies to adopt Employee Stock Ownership Plans (ESOPs). Key provisions include extending tax deferral for sales of company stock to ESOPs, creating a Treasury Department office to provide technical assistance for ESOPs, and amending small business laws to ensure ESOP-owned businesses remain eligible for small business programs. The bill also establishes a dedicated Advocate for Employee Ownership within the Department of Labor to promote ESOP adoption, provide education, and help resolve disputes related to ESOPs. This legislation directly affects S corporations considering employee ownership transitions, their employees who would become partial owners, and small businesses that want to maintain eligibility for small business programs after an ESOP transition. The bill seeks to expand a model that studies show provides employees with retirement savings and greater job stability compared to traditional companies.
Sponsored bills
Maddy summaryThis bill increases the Commodity Futures Trading Commission's (CFTC) whistleblower fund from $100 million to $300 million and creates a separate account within the fund. The new account, capped at $10 million, specifically covers education initiatives and administrative costs for the CFTC's whistleblower program staff. It modifies the program's funding to be "until expended" instead of "until the fund is exhausted" and removes an outdated funding paragraph. The bill directly affects the CFTC's ability to manage its whistleblower program and support staff handling fraud reports in commodity markets.
This resolution recognizes the 30th anniversary of the founding of the Department of Defense State Partnership Program and its outsized influence in developing and supporting enduring relationships around the world. The resolution also expresses deep gratitude for the service of members of the National Guard to the program.
Maddy summaryS 2496, the VALID Act of 2023, amends disclosure requirements for FHA-insured loans. It requires lenders to include specific information about VA loans - specifically the loan-to-value ratio and VA loan details assuming prevailing interest rates - when discussing FHA loans. This change directly affects borrowers applying for FHA-insured mortgages by providing clearer comparative information about VA loan options. The bill does not alter VA loan eligibility or require lenders to verify borrower eligibility for VA loans. The key provision is a mandatory update to existing disclosure language under the National Housing Act.
Maddy summaryThis bill prohibits the Department of Defense from using military funds to cover travel, lodging, meals, or transportation expenses related to abortions for service members or their dependents, except in cases where the pregnancy endangers the mother’s life, results from rape, or results from incest. It also terminates a 2022 Department of Defense memo that allowed access to abortion-related care and bans using medical convalescent leave or administrative absences for abortion-related travel under the same limited exceptions. The bill directly affects active-duty military personnel, veterans, and their dependents who might seek abortion care. It modifies existing travel and leave regulations under U.S. Code titles 37 and 10 to restrict these benefits, aligning with existing federal law that limits abortion funding. The policy change removes prior allowances for abortion-related travel expenses and leave under military benefits programs.
Maddy summaryS 2372, the Accelerating Kids’ Access to Care Act, streamlines enrollment for out-of-state healthcare providers who treat Medicaid-eligible children under 21 with medically complex conditions. It requires states to adopt a process allowing these providers to join state Medicaid/CHIP programs without extra state-level screening, provided they already meet federal Medicare or home-state program requirements and pose low fraud risk. The bill establishes a 5-year enrollment period for eligible providers, directly affecting children needing specialized care across state lines and the providers serving them. Key provisions remove barriers to interstate care coordination while maintaining federal oversight standards.
Maddy summaryS 2330, the Small Business Technological Advancement Act, expands eligibility for Small Business Administration (SBA) loans to cover business software and cloud computing services. It directly affects small businesses seeking to finance tools that manage payroll, human resources, sales, billing, inventory, or accounting operations. The bill amends Section 7(a) of the Small Business Act to explicitly allow SBA loans to partially or fully fund these technology services. This changes existing policy by broadening the types of business expenses covered under standard SBA loan programs.
Maddy summaryThis bill requires new Department of Veterans Affairs (VA) employees hired after its enactment to complete annual training on interacting with the VA Office of Inspector General (OIG). The training, developed by the OIG, covers the OIG's role, how to report fraud/waste/abuse confidentially, protections against retaliation for reporting, and opportunities to collaborate with the OIG on improving VA services. It mandates that this training be delivered through the VA's talent management system within one year of an employee's start date and kept separate from existing ethics training. The bill also requires the OIG to provide biannual notifications to all VA staff about OIG resources and how to access the training.
Maddy summarySRES 298 is a symbolic Senate resolution designating July 30, 2023, as "National Whistleblower Appreciation Day." It commemorates the historical date of July 30, 1778, when the Continental Congress passed early whistleblower protections. The resolution asks all federal agencies to recognize the day by informing employees, contractors, and the public about their legal right to report misconduct, fraud, or crimes through proper channels. It does not create new legal protections or funding but encourages agencies to acknowledge whistleblowers' role in saving taxpayer dollars and promoting ethical government. This is a procedural resolution focused on awareness, not policy change.
Maddy summaryThis bill authorizes the U.S. Mint to produce commemorative coins for the 2028 Los Angeles Olympic and Paralympic Games. It specifies four coin types ($5 gold, $1 silver, half-dollar clad, and proof silver $1) with set mintage limits, design requirements (including "2028" and "Liberty" inscriptions), and a 1-year issuance window starting January 1, 2028. All coins include surcharges ($5-$50 per coin) that fund the U.S. Olympic and Paralympic Committee for the Games and legacy programs like youth sports promotion. The coins are legal tender but sold at face value plus surcharge and production costs, with no net cost to the federal government.