Amendments for HB23-1081
House Journal, February 3
42 HB23-1081 be amended as follows, and as so amended, be referred to
43 the Committee on Appropriations with favorable
44 recommendation:
45
46 Amend printed bill, page 2, line 3, strike "(5)(a)(IV),".
47
48 Page 2, line 4, strike "and (5)(a)(V)" and substitute "(5)(a)(V), and
49 (5)(a)(VI)".
50
51 Page 2, line 9, strike "FORM OF".
52
53 Page 2, strike line 10 and substitute "MECHANISM UNDER WHICH AN
54 EMPLOYER GRANTS TO EMPLOYEES A FORM OF EMPLOYEE OWNERSHIP,
55 INCLUDING BUT NOT LIMITED TO AN".
56
1 Page 2, line 12, strike "PROFIT SHARING,".
2
3 Page 3, strike lines 1 through 25 and substitute:
4
5 "(II) THE OFFICE SHALL DEVELOP GUIDELINES THAT CLARIFY THE
6 TYPES OF EMPLOYEE OWNERSHIP GRANTS THAT QUALIFY AS AN
7 ALTERNATE EQUITY STRUCTURE. THE OFFICE MAY PERIODICALLY UPDATE
8 ANY GUIDELINES ISSUED PURSUANT TO THIS SUBSECTION (2)(a)(II).".
9
10 Page 7, strike lines 26 and 27 and substitute:
11
12 "(V) DETAILED GUIDELINES REGARDING EXPANSION COSTS; AND".
13
14 Renumber succeeding subparagraph accordingly.
15
16
House Journal, April 19
22 Amend printed bill, page 2, line 13, after "EQUITY." insert "AN
23 ALTERNATE EQUITY STRUCTURE MUST AT A MINIMUM:
24 (A) GRANT RIGHTS TO OR BE OFFERED TO AT LEAST TWENTY
25 PERCENT OF AN EMPLOYER'S ELIGIBLE WORKERS, OR GRANT RIGHTS TO OR
26 BE OFFERED TO AT LEAST TWENTY PERCENT OF ELIGIBLE WORKERS OF AN
27 EMPLOYER THAT IS OWNED BY OR OPERATED FOR THE BENEFIT OF ELIGIBLE
28 WORKERS IN A BROAD-BASED EMPLOYEE OWNERSHIP TRANSITION. FOR
29 PURPOSES OF THIS SUBSECTION (2)(a)(I), "ELIGIBLE WORKERS" MEANS ALL
30 FULL-TIME EMPLOYEES, REGULAR EMPLOYEES, NON-SEASONAL
31 EMPLOYEES, NON-MANAGERIAL EMPLOYEES, AND CONTRACT LABOR.
32 (B) HAVE THE PARTICIPATION OF AT LEAST TWENTY PERCENT OF
33 AN EMPLOYER'S ELIGIBLE WORKERS;
34 (C) ALLOCATE AT LEAST TWENTY PERCENT OF THE FULLY DILUTED
35 SECURITIES OR RIGHTS TO A SYNTHETIC INTEREST IN SECURITIES TO
36 PARTICIPATING ELIGIBLE WORKERS, OR ALLOCATE TWENTY PERCENT OF
37 NET PROFIT FROM OPERATIONS TO PARTICIPATING ELIGIBLE WORKERS; AND
38 (D) GRANT TO PARTICIPATING ELIGIBLE WORKERS INFORMATIONAL
39 RIGHTS, DECISION-MAKING RIGHTS, AND NON-FINANCIAL RIGHTS THAT ARE
40 EQUAL TO OR GREATER THAN THE RIGHTS THAT ARE GRANTED TO HOLDERS
41 OF THE EMPLOYER'S COMMON STOCK OR HOLDERS OF THE EMPLOYER'S
42 RESIDUAL MEMBERSHIP INTEREST.".
43
44 Page 5, after line 24 insert:
45
46 "(k) "SECURITIES" HAS THE SAME MEANING AS THE TERM
47 "SECURITY" SET FORTH IN 15 U.S.C. SEC. 77b (a)(1).".
48
49 Renumber succeeding paragraph accordingly.
50
51 As amended, ordered engrossed and placed on the Calendar for Third
52 Reading and Final Passage.