Massachusetts Legislature Considers Pro-Employee Ownership Bill

The Massachusetts House of Representatives voted to give initial approval to a bill that would require people who intend to sell their companies to notify employees that they are eligible to bid on the business. H 1740, An Act relative to job creation through employee ownership, sponsored by Paul Mark (D-Peru) requires the employer, within seven days of deciding to sell the business, to notify the employees of the sale and specifies that employees "shall have the right of first refusal in bidding to purchase said business corporation through a cooperative or employee stock ownership program."