Improving SBA Engagement on Employee Ownership Act

HR 5778 requires the Small Business Administration (SBA) to participate in federal interagency meetings about employee ownership and cooperatives. Specifically, the SBA Administrator (or a designee) must attend such meetings when invited or if there's a prior relationship with the host agency. The bill also updates outreach language for Small Business Investment Companies to include investors and mandates the SBA to implement existing outreach through its Employee Ownership Program within 180 days of enactment. This directly affects the SBA's operational procedures and indirectly supports employee-owned businesses by improving federal coordination on these models.