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United States · Bill · HR

H.R. 12870 (95th)

Voluntary Job Preservation and Community Stabilization Act

referredUnited States· United States Congress· EN

Introduced

25 May 1978

Last action

25 May 1978 · Introduced

Status

Referred to House Committee on Banking, Finance and Urban Affairs.

Sponsors

Rep. Kostmayer, Peter H. [D-PA-8], Rep. Lundine, Stanley N. [D-NY-34], Rep. McHugh, Matthew F. [D-NY-28], Rep. Lederer, Raymond F. [D-PA-3], Rep. Drinan, Robert F. [D-MA-4], Rep. Conyers, John, Jr. [D-MI-13], Rep. Carney, Charles J. [D-OH-19], Rep. Addabbo, Joseph P. [D-NY-6], Rep. McKinney, Stewart B. [R-CT-4], Rep. Diggs, Charles C., Jr. [D-MI-13], Rep. Moakley, John Joseph [D-MA-9], Rep. Downey, Thomas J. [D-NY-2], Rep. Nix, Robert N. C. [D-PA-2], Rep. Murphy, Austin J. [D-PA-20], Rep. Marks, Marc L. [R-PA-24], Rep. Roybal, Edward R. [D-CA-25], Del. Fauntroy, Walter E. [D-DC-At Large], Rep. Walgren, Doug [D-PA-18], Rep. Stokes, Louis [D-OH-11], Rep. Rosenthal, Benjamin S. [D-NY-8], Rep. Mineta, Norman Y. [D-CA-15], Rep. Harrington, Michael J. [D-MA-6], Rep. Richmond, Frederick W. [D-NY-14], Rep. Mitchell, Parren J. [D-MD-7], Rep. Schroeder, Patricia [D-CO-1]

Subjects

Discovery layer

Source updated

2 September 2025

Official sourceView documentsShare

Summary

Voluntary Job Preservation and Community Stabilization Act - Directs the Secretary of Commerce to conduct a continuing investigation to identify those industrial, business, agricultural, and service organizations (1) which are in danger of ceasing operation or of outmigration and (2) whose closing or relocation would result in substantial unemployment and economic dislocation in the community. Provides, through the Secretary, loans for technical assistance and status and operating costs to an employee or employee/community corporation which meets certain requirements in order that it may assume ownership and operation of an organization so identified. Conditions loans, among other factors, upon certification that the corporation will allow new employees to participate and will adopt a method for acquisition of stock of persons no longer associated with the organization for the purpose of making it available to all employees on a nondiscriminatory basis. Authorizes loans of up to $15,000 to an employee who wishes to purchase stock in a purchasing corporation and who is unable to secure financing elsewhere.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 25 May 1978

    Introduced

    Referred to House Committee on Banking, Finance and Urban Affairs.

    Source: IntroReferral

  2. 25 May 1978

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 25 May 1978

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

Leesvertaling

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Sponsors

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Sources

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