SBA directed to step up employee ownership outreach under HR 5778
Placed on the calendarH.R. 5778Latest action
Sponsor: LaMonica McIver · Representative · NJ
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Official title: Improving SBA Engagement on Employee Ownership Act
119th Congress
Topics: Jobs & the economy
Introduced:
Read the official bill on Congress.govIn plain words
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HR 5778 requires the SBA to join federal meetings and use existing programs to promote employee ownership, at no new cost.
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What does this do?
HR 5778 requires the SBA to participate in federal agency meetings and working groups focused on employee ownership when invited or when an existing relationship applies. Within 180 days of enactment, the SBA must use an existing program to provide outreach and assistance on employee ownership. The bill also expands outreach about employee ownership to include investors and limited partners of small business investment companies, not just the companies themselves.
Who does it affect?
The bill primarily affects small business owners considering a transition to employee ownership and the workers who could become co-owners through that process. Investors and limited partners connected to small business investment companies are also newly included in the scope of SBA outreach.
Why does it matter?
By embedding the SBA in existing federal conversations, the bill could increase the visibility and accessibility of employee ownership as a business model. Expanding who receives outreach may lead more investors and small business stakeholders to engage with or consider employee ownership structures.
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Where does it stand?
- IntroducedOct 17, 2025
- House committee
- House voteYou are here · Dec 17, 2025
- Senate
- The president's desk
Right now: it was placed on the , and the official record shows no floor action on it since. If the Senate changes it, it goes back to the House before reaching the president.
Latest action: — Placed on the Union Calendar, Calendar No. 358.