On February 18, 2022, SB-1407 California Employee Ownership Act was introduced by Senator Josh Becker to expand employee ownership of California businesses. The bill specifically focuses on providing education, technical assistance and other supportive resources for enterprises making the transition to employee ownership and is currently under review by the Committee on Jobs, Economic Development & the Economy. The legislation is co-authored by Senator Andreas Borgeas, R-Fresno, Senator Rosilicie Ochoa Bogh, R-Yucaipa, Senator Anthony Portantino, D-La Cañada Flintridge, and Assemblymember Phil Ting, D-San Francisco.

Click here to read the SB-1407 California Employee Ownership Act.