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Committee hears bill to allow ESOPs to qualify for contracting preference (HB 3646)
2694466 · March 18, 2025
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Summary
The committee heard testimony supporting House Bill 3,646 to allow employee-stock-ownership-plan companies with at least 50% employee ownership to be eligible for a permissive contracting preference.
Representative Thuy Tran introduced House Bill 3,646 to add employee-owned companies — entities in which employees own at least 50% of the ownership interest directly or through an employee stock ownership plan (ESOP) — to the types of suppliers that contracting agencies may give a preference in public procurement.
Tran said the bill mirrors a…
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