Employee Equity Investment Act of 2023

The Employee Equity Investment Act of 2023 creates a new facility to provide financial support for employee-owned businesses by establishing new rules for "employee equity investment companies." These companies must invest at least 75% of their capital in employee ownership transitions, requiring independent trustees and fairness opinions for transactions to protect employee interests. The bill also modifies government procurement rules to help employee stock ownership plans and worker-owned cooperatives access set-aside contracts. The facility will expire 20 years after the first license is issued, with detailed reporting requirements for all investments.