New bill to aid, support employee-owned and cooperative businesses

Maine is well known for its many small businesses. They make up the backbone of our economy and our communities, and employee-owned businesses are no exception.

In employee-owned businesses or cooperatives (co-ops), its the workers who own all, or the majority, of the company. For workers and business owners both, this can be a great way to encourage innovation, incentive, and pride in the work you do – because you are working for yourself.

Now, a new bill written by Sen. Reny aims to help encourage and aid businesses looking to move toward some form of employee ownership.

LD 1276 would do the following:

1. Exclude the amount of gain recognized by a business owner in transferring the business to an employee stock ownership plan, eligible worker-owned cooperative, consumer cooperative, affordable housing cooperative, or agriculture producer cooperative from Maine’s income tax, up to $750,000. It would also exclude the interest from loans that finance transfers of ownership.
   

2. Create the Maine Employee Ownership Center, which will provide information and programs to assist businesses in the transition to employee or cooperative ownership. The Department of Economic and Community Development and Office of Business Development will work with a nonprofit development organization with relevant expertise to help develop and manage this center.
   

3. The Office of Program Evaluation and Government Accountability and the Government Oversight Committee and the joint standing committee of the Legislature having jurisdiction over taxation matters will create performance parameters in order to qualify for these exemptions. They can include, the number of qualifying business ownership conversions to employee or cooperative ownership; The number of full-time equivalent jobs retained and units of affordable housing created or retained; the number of housing units converted to cooperative housing; and more.

This bill is a great tool to help businesses make the switch to employee ownership. Employee ownership is good for businesses, good for workers, and good for our communities. We urge the Legislature to pass this bill!

New bill to create student loan repayment fund for childcare

Maine’s childcare system is struggling. Daycares and early education centers have closed all over the state, causing childcare deserts. And for the workers that still remain, low pay makes it near impossible to make ends meet.

While some progress was made last session to remedy this, the problem of low pay persists. To many childcare workers, this is devastating. This is a vocation they have felt called to, but they are overworked, understaffed, and underpaid. Many are forced to quit or push themselves into second jobs.

Senator Baldacci has introduced a bill that could help alleviate some of the pressure on these workers. LD 890 would create a fund to help qualifying childcare workers pay back their student loans.

The program would provide up to $6,000 annually to a childcare workerr that meets the following criteria:

• They must work in an underserved area;

• They must work at least 30 hours per week for a licensed childcare facility or family childcare provider;

• They must have worked at the facility for at least 120 days prior to requesting a distribution;

• They must have student loans either in the past or concurrently and have made payments on the loan(s).

This bill would provide our childcare workers with much-needed relief, allowing them to keep more of their hard-earned money in their pockets. We urge the Legislature to pass this bill.

Healthcare professionals are calling for Paid Family Leave!

All nurses, doctors and health care professionals swear an oath to care for their patients by aiding them when they’re sick, alleviating pain where they can, and promoting good health. So it comes as no surprise that more and more Mainers in the healthcare sector are coming together to advocate for a robust Paid Family and Medical Leave program in Maine.

SIGN HERE: Healthcare Providers in Maine support Paid Family & Medical Leave

Healthcare professionals like Emma, a postpartum nurse in Portland, are making their voices heard. "It is devastating for me to watch my patients go back to work two weeks after a C-section, when the recovery time is six weeks," she said.

Registered Nurse Sadie Tirrell also shared her thoughts on the importance of having a strong PFML policy in Maine. "Paid Leave will be a crucial part of maintaining a healthy community, especially going forward with the aging population in Maine," she said.

Are you a healthcare professional? Make your voice heard by signing on to this letter calling for PFML!

Healthcare practitioners across the state have joined our call for Paid Family and Medical Leave in Maine. That’s because the data is clear: a strong PFML policy would allow patients to live a healthier life by helping them balance work with their healthcare needs and those of their family members.

No Mainer should be forced to choose between taking care of themselves or their loved ones and making ends meet. That’s why we need our legislators and the Governor to act by supporting the creation of a robust Paid Family and Medical Leave program in Maine this legislative session.Sign here to join our petition for Paid Family and Medical Leave if you are a healthcare professional in Maine!