HOUSE DOCKET, NO. 1725 FILED ON: 2/10/2021
HOUSE . . . . . . . . . . . . . . . No.
The Commonwealth of Massachusetts
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PRESENTED BY:
Paul W. Mark
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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.
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PETITION OF:
NAME: DISTRICT/ADDRESS: DATE ADDED:
Paul W. Mark 2nd Berkshire 2/10/2021
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 HOUSE DOCKET, NO. 1725 FILED ON: 2/10/2021
HOUSE . . . . . . . . . . . . . . . No.
[Pin Slip]
The Commonwealth of Massachusetts
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In the One Hundred and Ninety-Second General Court
(2021-2022)
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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:
1 SECTION 1. Section 6 of Chapter 23D of the general laws is hereby amended by
2 adding the following:- Within seven days of signaling intent to sell or transfer ownership of any
3 business corporation or plant within the domain of said business corporation, the president or
4 chief executive officer of said business corporation must notify its employees in writing that they
5 are eligible to purchase or bid on said business corporation through a cooperative or employee
6 stock ownership program, and provide information to contact the Office of Employee
7 Involvement and Ownership. Such notice must be displayed in a prominent common area of the
8 facility or facilities affected by said potential sale. The employees of any business corporation
9 whose president, chief executive officer, or principal owners have signaled an intent to sell or
10 transfer ownership of said business corporation or plant within the domain of said business
11 corporation shall have the right of first refusal in bidding to purchase said business corporation
12 through a cooperative or employee stock ownership program.
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Statutes affected:
Bill Text: