Worker ownership, readiness, and knowledge

In this section: The term “existing program” means a program, designed to promote employee ownership, that exists on the date on which the Secretary is carrying out a responsibility authorized under this section. The term “Initiative” means the Employee Ownership Initiative established under subsection (b). The term “new program” means a program, designed to promote employee ownership, that does not exist on the date on which the Secretary is carrying out a responsibility authorized under this section. The term “Secretary” means the Secretary of Labor. The term “State” has the meaning given the term under section 3102 of this title. The Secretary shall establish within the Department of Labor an Employee Ownership Initiative to promote employee ownership. In carrying out the Initiative, the Secretary shall— To carry out the functions enumerated in paragraph (2), the Secretary shall support new programs and existing programs by— The Secretary shall consult with the Secretary of the Treasury, or the Secretary’s delegate, in the case of any employee ownership arrangements or structures the administration and enforcement of which are within the jurisdiction of the Department of the Treasury. Not later than 180 days after December 29, 2022, the Secretary shall establish a program to encourage new programs and existing programs within the States to foster employee ownership throughout the United States. The purpose of the program established under paragraph (1) is to encourage new and existing programs within the States that focus on— The Secretary may include, in the program established under paragraph (1), provisions that— in the case of activities described in paragraph (2)(A)— in the case of activities described in paragraph (2)(B)— in the case of activities described in paragraph (2)(C)— in the case of training described in paragraph (2)(D)— The Secretary shall issue formal guidance, for— recipients of grants awarded under subsection (d) and one-stop partners (as defined in section 3102 of this title) affiliated with the workforce development systems (as so defined) of the States, proposing that programs and other activities funded under this section be— In carrying out the program established under subsection (c), the Secretary may make grants for use in connection with new programs and existing programs within a State for any of the following activities: The Secretary shall determine the amount and any conditions for a grant made under this subsection. The amount of the grant shall be subject to paragraph (6), and shall reflect the capacity of the applicant for the grant. Each entity desiring a grant under this subsection shall submit an application to the Secretary at such time, in such manner, and accompanied by such information as the Secretary may reasonably require. Each State may sponsor and submit an application under paragraph (3) on behalf of any local entity consisting of a unit of State or local government, State-supported institution of higher education, or nonprofit organization, meeting the requirements of this section. If a State fails to support or establish a program pursuant to this section during any fiscal year, the Secretary shall, in the subsequent fiscal years, allow local entities described in paragraph (4) from that State to make applications for grants under paragraph (3) on their own initiative. Any State failing to support or establish a program pursuant to this section during any fiscal year may submit applications under paragraph (3) in the subsequent fiscal years but may not screen applications by local entities described in paragraph (4) before submitting the applications to the Secretary. A recipient of a grant made under this subsection shall not receive, during a fiscal year, in the aggregate, more than the following amounts: For each year, each recipient of a grant under this subsection shall submit to the Secretary a report describing how grant funds allocated pursuant to this subsection were expended during the 12-month period preceding the date of the submission of the report. The Secretary is authorized to reserve not more than 10 percent of the funds appropriated for a fiscal year to carry out this section, for the purposes of conducting evaluations of the grant programs identified in subsection (d) and to provide related technical assistance. Not later than the expiration of the 36-month period following December 29, 2022, the Secretary shall prepare and submit to Congress a report— There are authorized to be appropriated for the purpose of making grants pursuant to subsection (d) the following: There are authorized to be appropriated for the purpose of funding the administrative expenses related to the Initiative— for each of fiscal years 2025 through 2029, an amount not in excess of the lesser of—