S. 2402
Referred to CommitteeA bill to establish a pilot program to incentivize employee ownership in defense contracting.
Latest Action
Read twice and referred to the Committee on Armed Services.
7/20/2021 • Senate
Summary
This bill authorizes a three-year pilot program under which the Department of Defense may use noncompetitive procedures for awarding follow-on contracts to qualified businesses wholly-owned through an ESOP (i.e., an S corporation for which 100% of the outstanding stock is held through an employee stock ownership plan) if the prior contract was rated as satisfactory or better. The Government Accountability Office must report on the individual and aggregate uses of the authority provided under this bill.
Introduced in Senate • 7/20/2021
Topics & Subjects
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Sponsor & Cosponsors (2)
Party Breakdown
Sponsor
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Bill Journey
Originated in the Senate
Introduced
July 20, 2021
Read twice and referred to the Committee on Armed Services.
Committee Review
Floor Debate
Passed Chamber
Other Chamber
President
Enacted into Law