Advisory Council on Employee Ownership

(a) In general (1) Establishment There is hereby established an Advisory Council on Employee Ownership (hereinafter in this section referred to as the Council) consisting of 7 members appointed by the Secretary. (2) Membership (A) In general Of the 7 members of the Council— (i) 4 shall be appointed to represent employees; (ii) 1 shall be appointed to represent companies that have established an employee stock ownership plan or eligible worker-owned cooperative; (iii) 1 shall be appointed to represent employee stock ownership plan providers; and (iv) 1 shall be appointed to represent associations or other membership organizations for employee stock ownership plans or eligible worker-owned cooperatives. (B) Political affiliation Not more than 4 members of the Council shall be members of the same political party. (3) Terms Members of the Council shall serve for terms of 2 years. (4) Appointment; reappointment A member of the Council may be reappointed to serve additional terms. (5) Vacancies A member of the Council appointed to fill a vacancy shall be appointed only for the remainder of such term. (6) Quorum A majority of members of the Council shall constitute a quorum and action shall be taken only by a majority vote of those present and voting. (b) Duties and functions (1) In general It shall be the duty of the Council to advise the Secretary with respect to the carrying out of the functions of the Secretary under this Act and to submit to the Secretary recommendations with respect to carrying out such duties. (2) Meetings The Council shall meet at least 4 times each year and at such other times as the Secretary requests. (3) Report The Council shall annually submit a report to the Secretary on the recommendations described in paragraph (1). (c) Executive Secretary; Secretarial and clerical services The Secretary shall furnish to the Council an Executive Secretary and such secretarial, clerical, and other services as are determined necessary to conduct the business of the Council. The Secretary may call upon other agencies of the Federal Government for statistical data, reports, and other information which will assist the Council in the performance of its duties. (d) Compensation (1) In general Members of the Council shall each be entitled to receive the daily equivalent of the annual rate of basic pay in effect for level IV of the Executive Schedule under section 5315 of title 5, United States Code for each day (including travel time) during which they are engaged in the actual performance of duties vested in the Council. (2) Travel expenses While away from their homes or regular places of business in the performance of services for the Council, members of the Council shall be allowed travel expenses, including per diem in lieu of subsistence, in the same manner as persons employed intermittently in the Government service are allowed expenses under section 5703 of title 5, United States Code. (e) Termination Section 1013 of title 5, United States Code, relating to termination, shall not apply to the Council.