Bill Text: TX HB4321 | 2021-2022 | 87th Legislature | Introduced


Bill Title: Relating to the creation of the employee ownership assistance office within the Texas A&M University School of Business.

Spectrum: Partisan Bill (Republican 1-0)

Status: (Introduced - Dead) 2021-03-29 - Referred to Business & Industry [HB4321 Detail]

Download: Texas-2021-HB4321-Introduced.html
  87R6706 MLH-F
 
  By: Shine H.B. No. 4321
 
 
 
A BILL TO BE ENTITLED
 
AN ACT
  relating to the creation of the employee ownership assistance
  office within the Texas A&M University School of Business.
         BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS:
         SECTION 1.  Chapter 88, Education Code, is amended by adding
  Subchapter L to read as follows:
  SUBCHAPTER L. EMPLOYEE OWNERSHIP ASSISTANCE OFFICE
         Sec. 88.841.  ESTABLISHMENT OF EMPLOYEE OWNERSHIP
  ASSISTANCE OFFICE. The employee ownership assistance office is an
  office within the Texas A&M University School of Business.
         Sec. 88.842.  DUTIES. (a) The employee ownership
  assistance office shall establish and administer for businesses in
  this state:
               (1)  an outreach and information dissemination program
  to foster increased awareness of employee stock ownership plans;
  and
               (2)  a technical assistance program to assist
  businesses in determining the feasibility of establishing an
  employee stock ownership plan.
         (b)  The employee ownership assistance office shall make
  available to businesses in this state information relating to
  obtaining assistance under the programs established under
  Subsection (a).
         (c)  The employee ownership assistance office may conduct
  research, collect relevant data, and conduct forums on employee
  stock ownership plans.
         (d)  In this section, "employee stock ownership plan" has the
  meaning assigned by Section 4975(e), Internal Revenue Code of 1986. 
         Sec. 88.843.  GRANTS, GIFTS, AND DONATIONS. The board may
  solicit and accept gifts, grants, and donations for the purposes of
  this subchapter.
         SECTION 2.  This Act takes effect September 1, 2021.
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