PA SB478

Establishes the Office of Employee Ownership within the Department of Community and Economic Development, led by a Governor-appointed employee ownership advocate who oversees outreach, education, and technical assistance for businesses converting to employee-owned enterprises

Creates the Employee Ownership Advisory Board with 11 members including representatives from labor unions, banking, academia, and the legislature to research methods, develop best practices, and make policy recommendations for employee-owned enterprises

Establishes the Main Street Employee Ownership Grant Program providing grants up to $35,000 to businesses with fewer than 200 employees for establishing workers' cooperatives, converting to employee ownership, or obtaining technical assistance

Authorizes technical assistance funding with maximum state participation of 50% of costs and grants up to $35,000, covering feasibility studies and professional services for firms facing layoffs, plant closings, or seeking conversion to employee ownership

Requires annual reporting to the General Assembly by December 31 each year detailing program impacts, list of employee-owned enterprises by county, jobs created or retained, and recommendations for effective utilization of Commonwealth funding