# 119-s-1645: American Ownership and Resilience Act 119-s-1645, American Ownership and Resilience Act, is a 119th Congress bill sponsored by Sen. Van Hollen, Chris [D-MD] (D-MD); status introduced; PRIA reads it as touching household money (as of 2026-05-24). - Canonical: https://policyrisk.com/legislation/119-s-1645 - As of: 2026-05-24 - Plain-text twin of the page above; the HTML and this file carry the same facts. ## Facts - Bill: 119-s-1645 - Congress: 119 - Title: American Ownership and Resilience Act - Status: introduced - Introduced: 2025-05-07 - Sponsor: Sen. Van Hollen, Chris [D-MD] (D-MD) - Cosponsors: 8 - Policy area: Finance and Financial Sector - Touches household money: yes - Last recorded action: 2026-05-24 ## Summary **Would create a Department of Commerce–run Ownership Investment Facility to back loans and guarantees that help finance ESOP sales and worker-owned cooperative transactions.** It would license Ownership Investment Companies and set a hard annual leverage cap of $5.0 billion while restricting how much protege firms can receive. - Workers and employee-owners: Requires an independent ESOP trustee and a fairness opinion for ESOP transactions, preserves participant voting directions and allocation protections, and narrowly limits employee personal financing. - Small businesses and sellers: Expands access to government-backed leverage for buyouts and ownership transitions, with per-license leverage limits typically up to $500 million and Protege OIC caps of $100 million. - Investors, managers, and regulators: Would require OICs to hold at least $10.0 million in private capital, submit regular reports, undergo examinations and audits, follow conflict-of-interest rules, and operate under a sunset rule 20 years after the first license is approved. ## Cosponsors (8) - Sen. Moran, Jerry [R-KS] (R-KS), 2025-05-07T00:00:00.000Z - Sen. Baldwin, Tammy [D-WI] (D-WI), 2025-05-07T00:00:00.000Z - Sen. Young, Todd [R-IN] (R-IN), 2025-05-07T00:00:00.000Z - Sen. Shaheen, Jeanne [D-NH] (D-NH), 2025-05-07T00:00:00.000Z - Sen. Schmitt, Eric [R-MO] (R-MO), 2025-05-07T00:00:00.000Z - Sen. Welch, Peter [D-VT] (D-VT), 2025-05-07T00:00:00.000Z - Sen. Blackburn, Marsha [R-TN] (R-TN), 2026-05-21T00:00:00.000Z - Sen. Kaine, Tim [D-VA] (D-VA), 2026-05-21T00:00:00.000Z ## Provisions PRIA read - Licensing, capital, and manager rules: cost, medium. If enacted, the Department would start taking electronic license applications within 540 days and must decide complete applications within 90 days. Applicants must meet a $10 million private capital minimum and show qualified management or hire experienced advisors. The Department may grant provisi… - Loan terms and portfolio concentration rules: cost, medium. If enacted, loans made under the program could have maturities up to 20 years and may be extended up to 10 more years to aid orderly liquidation. Loans must be secure or of sound value. While Department financing is outstanding, a licensee could not invest more than 10% of (its private capital plus… - Caps and limits on OIC leverage: mixed, high. If enacted, the bill would cap outstanding leverage to non‑Protege firms at the lesser of their private capital or $500 million, and cap Protege firms at the lesser of private capital or $100 million. Two or more commonly controlled non‑impaired firms together could not exceed $1 billion. The Secre… - New federal leverage facility rules: mixed, high. If enacted, the Department would run a new federal facility to provide leverage to licensed firms. The facility could provide up to $5 billion each year and make guarantees and trust certificates when Congress funds them. Debentures could have terms up to 15 years and an interest floor tied to Trea… - ESOP protections and reporting rules: mixed, medium. If enacted, ESOP transactions involving OICs would need an independent trustee and a fairness opinion before signing. On third‑party sales, ESOP proceeds would be shared as if pre‑sale shares were fully allocated. ESOPs must keep at least the same number of shares at year end unless waived. Employe… - Stronger enforcement and removal powers: mixed, medium. If enacted, the Secretary would get broad investigatory and enforcement powers over licensed firms. The Secretary could subpoena evidence, seek injunctions without bond, ask courts to appoint trustees or receivers, and revoke or suspend licenses after a hearing. The Secretary could start removal pr… - Securities law exemptions for OIC debt: mixed, medium. If enacted, the SEC could add classes of ownership investment company securities to exemptions under the Securities Act and the Trust Indenture Act when it finds investor protection would not require enforcement. Certain Investment Company Act limits would not apply to senior securities if the Depa… ## Related bills - 119-sres-913: A resolution relating to the death of the Honorable Nancy Kassebaum, former United States Senator for the State of Kansas. - 119-sres-897: A resolution honoring the life, service, and legacy of the Honorable Jon Llewellyn Kyl, former Senator for the State of Arizona. - 119-sres-801: A resolution honoring the life and legacy of the Honorable Lindsey Olin Graham, a Senator from the State of South Carolina. - 119-sres-755: A resolution honoring the life of the Honorable Donald W. Riegle, Jr., former Senator for the State of Michigan. - 119-sres-739: A resolution honoring the life and legacy of John Seymour, the late Senator for the State of California. - 119-sres-723: A resolution honoring the life of Dirk Arthur Kempthorne, former United States Senator for the State of Idaho. ## Sources - [119-s-1645 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/1645) ## Related - [119-sres-913: A resolution relating to the death of the Honorable Nancy Kassebaum, former Uni…](https://policyrisk.com/legislation/119-sres-913) - [119-sres-897: A resolution honoring the life, service, and legacy of the Honorable Jon Llewel…](https://policyrisk.com/legislation/119-sres-897) - [119-sres-801: A resolution honoring the life and legacy of the Honorable Lindsey Olin Graham,…](https://policyrisk.com/legislation/119-sres-801) - [119-sres-755: A resolution honoring the life of the Honorable Donald W. Riegle, Jr., former S…](https://policyrisk.com/legislation/119-sres-755) - [119-sres-739: A resolution honoring the life and legacy of John Seymour, the late Senator for…](https://policyrisk.com/legislation/119-sres-739) - [119-sres-723: A resolution honoring the life of Dirk Arthur Kempthorne, former United States…](https://policyrisk.com/legislation/119-sres-723) - [All bills in Congress](https://policyrisk.com/legislation) Source: PRIA, https://policyrisk.com/legislation/119-s-1645 (as of 2026-05-24).