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A BILL TO BE ENTITLED
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AN ACT
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relating to the creation of the employee ownership assistance |
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office within the Texas A&M University School of Business. |
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BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF TEXAS: |
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SECTION 1. Chapter 88, Education Code, is amended by adding |
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Subchapter L to read as follows: |
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SUBCHAPTER L. EMPLOYEE OWNERSHIP ASSISTANCE OFFICE |
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Sec. 88.841. ESTABLISHMENT OF EMPLOYEE OWNERSHIP |
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ASSISTANCE OFFICE. The employee ownership assistance office is an |
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office within the Texas A&M University School of Business. |
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Sec. 88.842. DUTIES. (a) The employee ownership |
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assistance office shall establish and administer for businesses in |
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this state: |
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(1) an outreach and information dissemination program |
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to foster increased awareness of employee stock ownership plans; |
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and |
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(2) a technical assistance program to assist |
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businesses in determining the feasibility of establishing an |
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employee stock ownership plan. |
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(b) The employee ownership assistance office shall make |
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available to businesses in this state information relating to |
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obtaining assistance under the programs established under |
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Subsection (a). |
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(c) The employee ownership assistance office may conduct |
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research, collect relevant data, and conduct forums on employee |
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stock ownership plans. |
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(d) In this section, "employee stock ownership plan" has the |
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meaning assigned by Section 4975(e), Internal Revenue Code of 1986. |
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Sec. 88.843. GRANTS, GIFTS, AND DONATIONS. The board may |
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solicit and accept gifts, grants, and donations for the purposes of |
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this subchapter. |
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SECTION 2. This Act takes effect September 1, 2021. |