California Code, Government Code - GOV § 12100.32

(a) “Advocate” means the Small Business Advocate.

(b) “Broad-based employee ownership vehicle” means any of the following:

(c) “California capital programs” means state programs offering capital assistance to businesses, including, but not limited to, the Small Business Loan Guarantee Program, the State Small Business Credit Initiative, the California Rebuilding Fund, and the California Capital Access Program.

(d) “CalOSBA” or “office” means the Office of Small Business Advocate within the Governor's Office of Business and Economic Development.

(e) “Eligible worker-owned cooperative” has the same definition as that term is defined in paragraph (2) of subsection (c) of Section 1042 of the Internal Revenue Code,  1 as that provision read on January 1, 2022.

(f) “Employee stock ownership plan” or “ESOP” has the same definition as that term is defined in paragraph (7) of subsection (e) of Section 4975 of the Internal Revenue Code, as that provision read on January 1, 2022.

(g) “Employee ownership transition” means the process of a business entering a broad-based employee ownership vehicle.

(h) “Feasibility assessment” means a financial assessment of a company's debt capacity and other factors that will determine viable employee ownership transition scenarios.

(i) “Independent ESOP trustee” means an ESOP trustee that is unrelated to the company, its officers, and its shareholders, and is in the business of serving as an ESOP fiduciary.

(j) “Manager” means the Employee Ownership Hub Manager.

(k) “Worker cooperative” or “employment cooperative” has the same definition as those terms are defined in Section 12253.5 of the Corporations Code.