CA SB1407

Establishes the California Employee Ownership Hub within the Office of Small Business Advocate (CalOSBA) upon legislative appropriation to increase awareness of employee ownership and reduce barriers to employee ownership transitions.

Requires appointment of an Employee Ownership Hub Manager to administer the hub and coordinate with state agencies, private organizations, unions, and workforce development entities to promote employee ownership benefits and transition models.

Authorizes the Manager to provide referral services connecting business owners and employees with legal, financial, and technical resources for employee ownership transitions and to work with capital financing entities to enhance access to state capital programs for employee-owned businesses.

Defines "broad-based employee ownership vehicles" to include employee stock ownership plans (ESOPs), worker cooperatives, employee-owned corporations, and other trust-based employee ownership structures, with specific requirements for ESOPs to have independent trustees or trustee training.

Requires the Hub Manager to submit annual reports to the Legislature beginning January 15 following the first fiscal year of funding, detailing hub activities and recommendations for improvement.