The Worker Ownership, Readiness, and Knowledge (WORK) Act, part of the SECURE 2.0 Act of 2022, aims to promote and support worker-owned businesses in the U.S.
It establishes the Employee Ownership Initiative within the Department of Labor to provide education, outreach, and technical assistance for employee ownership. The Act allocates $50 million over five years to support state programs that facilitate business succession planning and conversion to employee ownership. This initiative also includes the creation of a Division of Employee Ownership to develop best practices, support existing state programs, and provide grants for education and feasibility studies to foster worker ownership​.