Bill Summary for S 456 (2023-2024)

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Summary date: 

Mar 30 2023

Bill Information:

View NCGA Bill Details2023-2024 Session
Senate Bill 456 (Public) Filed Thursday, March 30, 2023
AN ACT TO APPROPRIATE FUNDS FOR THE OUTREACH, EDUCATION, TECHNICAL ASSISTANCE, AND PROMOTION OF EMPLOYEE EQUITY OWNERSHIP PLANS BY BUSINESS OWNERS IN THE STATE.
Intro. by Chaudhuri.

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Bill summary

Directs the Department of Commerce (Department) to provide outreach and education to business owners on employee equity ownership plans, and technical assistance to business owners to understand the feasibility of implementing these plans. Appropriates $50,000 from the General Fund to the Department each year of the 2023-25 fiscal biennium for these purposes. Permits the Department to work with any relevant nonprofits to achieve these purposes. Effective July 1, 2023.