Establishment of ESOP support position

(a) In general There is established in the Administration a position in the competitive service (as such term is defined in section 2102 of title 5, United States Code) which shall be appointed by the Administrator and responsible for providing small business concerns assistance with establishing employee stock ownership plans. (b) Responsibilities The responsibilities of the position established under subsection (a) include— (1) providing guidance to small business concerns on establishing employee stock ownership plans, including tax treatment of such plans, regulatory compliance, stock valuation, and opportunities to acquire funding to establish such a plan; (2) coordinating with relevant public and private entities to provide assistance and resources for establishing employee stock ownership plans that are tailored for small business concerns; (3) coordinating with the relevant personnel at the Department of Labor to assist small business concerns establishing employee stock ownership plans with compliance with all relevant regulatory requirements; (4) advocating for appropriate guidance from relevant Federal agencies, including the Department of Labor, regarding regulations relating to establishing and maintaining employee stock ownership plans, including regulations regarding stock valuation and employee ownership; and (5) such other responsibilities as determined appropriate by the Administrator.