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March 9, 2021
State Representative Brandon Chafee (D-Middletown) and State Representative Cristin McCarthy Vahey (D-Fairfield) both testified in support of a bill they co-introduced, HB 6120, An Act Establishing a Connecticut Center for Worker Ownership, during the March 4th Labor and Public Employees Committee public hearing.
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If enacted, HB 6120 would create a state Center for Worker Ownership. This organization would serve as a resource for both new and existing businesses to convert to an employee stock ownership plan (ESOP) or cooperative business model (COOP). These types of centers have been implemented in states across the country, including Vermont, Pennsylvania, and a joint program involving New York and New Jersey.