S. 1645: American Ownership and Resilience Act
A Senate bill (S.) in the 119th U.S. Congress.
Overview
| Congress | 119th U.S. Congress (2025–2026) |
|---|---|
| Type | Senate bill (S.) |
| Originating chamber | Senate |
| Introduced | 2025-05-07 |
| Sponsor | Sen. Van Hollen, Chris [D-MD] |
| Policy area | Finance and Financial Sector |
| Cosponsors | 8 |
| Latest action | 2025-05-07 — Read twice and referred to the Committee on Finance. |
| Last updated | 2026-05-22 |
Summary
Official summary (Introduced in Senate, 2025-05-07):
American Ownership and Resilience Act
This bill creates an investment facility to support the conversion of private businesses into employee-owned businesses.
Specifically, the Department of Commerce must establish an investment facility that provides leverage to ownership investment companies (OICs) licensed by Commerce.
Under the bill, OICs
- manage capital for the purpose of financing the sale of a private business to an employee stock ownership plan (ESOP) or eligible worker-owned cooperative,
- have the authority to borrow money and issue securities or other obligations to finance the sale, and
- have the full faith and credit of the United States to guarantee the payment of all such amounts.
In a sale to an ESOP, an independent trustee must be appointed to obtain a fairness opinion on the investment from an independent financial advisor.
New OICs may be mentored by other OICs through the Protégé OIC program established by the bill.
The bill also establishes private capital requirements, third-party debt limitations, and enforcement provisions.
Cosponsors (8)
| Name | Party / state |
|---|---|
| Jerry Moran | R KS (original cosponsor) 2025-05-07 |
| Tammy Baldwin | D WI (original cosponsor) 2025-05-07 |
| Todd Young | R IN (original cosponsor) 2025-05-07 |
| Jeanne Shaheen | D NH (original cosponsor) 2025-05-07 |
| Eric Schmitt | R MO (original cosponsor) 2025-05-07 |
| Peter Welch | D VT (original cosponsor) 2025-05-07 |
| Marsha Blackburn | R TN 2026-05-21 |
| Tim Kaine | D VA 2026-05-21 |
Full text & official record
The official bill text, section-by-section summary, amendments, committee reports, and the complete legislative timeline for S. 1645 are published by Congress on congress.gov.
View S. 1645 on congress.gov →
Frequently asked questions
What is S. 1645?
S. 1645 is a Senate bill (S.) introduced in the 119th U.S. Congress, originating in the Senate. Official title: American Ownership and Resilience Act.
Where can I read the full bill text?
The full text, cosponsors, amendments, and legislative status for S. 1645 are available on congress.gov.
Bill data: congress.gov API (official congressional records).