HOUSE DOCKET, NO. 2522 FILED ON: 1/16/2015
HOUSE . . . . . . . . . . . . . . . No. 1740
|
The Commonwealth of Massachusetts
_________________
PRESENTED BY:
Paul W. Mark
_________________
To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled:
The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:
An Act relative to job creation through employee ownership.
_______________
PETITION OF:
Name: | District/Address: | Date Added: |
Paul W. Mark | 2nd Berkshire | 1/16/2015 |
Brian M. Ashe | 2nd Hampden | 2/1/2015 |
Tricia Farley-Bouvier | 3rd Berkshire | 2/2/2015 |
Brian A. Joyce | Norfolk, Bristol and Plymouth | 2/2/2015 |
Mary S. Keefe | 15th Worcester | 1/29/2015 |
Peter V. Kocot | 1st Hampshire | 2/2/2015 |
Kevin J. Kuros | 8th Worcester | 2/2/2015 |
Jason M. Lewis | Fifth Middlesex | 1/29/2015 |
Tom Sannicandro | 7th Middlesex | 1/30/2015 |
HOUSE DOCKET, NO. 2522 FILED ON: 1/16/2015
HOUSE . . . . . . . . . . . . . . . No. 1740
By Mr. Mark of Peru, a petition (accompanied by bill, House, No. 1740) of Paul W. Mark and others for legislation to require business owners to notify employees of their eligibility to purchase or bid on said business prior to transfers of the business. Labor and Workforce Development. |
[SIMILAR MATTER FILED IN PREVIOUS SESSION
SEE HOUSE, NO. 1747 OF 2013-2014.]
The Commonwealth of Massachusetts
_______________
In the One Hundred and Eighty-Ninth General Court
(2015-2016)
_______________
An Act relative to job creation through employee ownership.
Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
SECTION 1. Section 6 of Chapter 23D of the general laws is hereby amended by adding the following:- Within seven days of signaling intent to sell or transfer ownership of any business corporation or plant within the domain of said business corporation, the president or chief executive officer of said business corporation must notify its employees in writing that they are eligible to purchase or bid on said business corporation through a cooperative or employee stock ownership program, and provide information to contact the Office of Employee Involvement and Ownership. Such notice must be displayed in a prominent common area of the facility or facilities affected by said potential sale.
The employees of any business corporation whose president, chief executive officer, or principal owners have signaled an intent to sell or transfer ownership of said business corporation or plant within the domain of said business corporation shall have the right of first refusal in bidding to purchase said business corporation through a cooperative or employee stock ownership program.