Legislature advances bill to create clearer pathway for worker-led cooperatives

The 37th Guam Legislature on the floor moved Bill 365 (37th Guam Legislature) into the third‑reading file after senators debated whether the bill would help restart Guam’s economy and expand opportunities for worker‑owned businesses.

Proponents said the measure would create a legal path for cooperatives and could help businesses recover faster after economic shocks. “I think this bill is critical to helping to restart our economy,” Senator Sabina Perez said on the floor. Senator William Parkinson added, “If there are some problematic areas in this bill, let’s handle them when they come about.”

Supporters told the Legislature they expect cooperatives to attract entrepreneurs seeking more resilient business models and said the bill would not affect existing cooperatives. In floor remarks, the sponsor noted committee and floor amendments and reiterated testimony that government economic development agencies — including the Guam Economic Development Authority (GEDA) and the Department of Revenue and Taxation (DRT) — expressed support during hearings.

Senators voted first to reconsider a failed second‑reading action related to the measure; the motion to reconsider carried and the subsequent motion to place Bill 365 into the third‑reading file carried without recorded objection. The motion to place the bill to third reading was described on the floor as “as amended by the committee and further amended on the floor.”

The bill’s sponsors and backers told colleagues they expect cooperative structures to appeal to some entrepreneurs while acknowledging the model is not for every business owner. The floor debate centered on whether the Legislature should advance the measure now and address specific drafting issues later in committee or with floor amendments.

Next steps: the bill will return for third‑reading consideration where its final text and any additional amendments will be considered before a final vote. No roll‑call or final passage on third reading was recorded in the transcript segment provided.