1. Short title This Act may be cited as the Employee Equity Investment Act of 2023 . 2. Employee equity investment facility (a) Definitions Section 103 of the Small Business Investment Act of 1958 ( 15 U.S.C. 662 ) is amended— (1) in paragraph (19), by striking and at the end; (2) in paragraph (20), by striking the period at the end and inserting a semicolon; and (3) by adding at the end the following: (21) the term covered investment means, with respect to an investment in a covered small business concern— (A) the provision of capital to finance the sale of an ownership interest of a covered small business concern, including a covered small business concern created as a result of a corporate divestiture, to an employee stock ownership plan or eligible worker-owned cooperative if such sale results in— (i) the employee stock ownership plan or eligible worker-owned cooperative, respectively, holding a majority interest of the outstanding stock of the covered small business concern; and (ii) with respect to such a sale to an employee stock ownership plan, the appointment of an independent trustee for the transaction; or (B) the provision of capital to finance a covered small business concern if— (i) an employee stock ownership plan or eligible worker-owned cooperative holds a majority interest of the outstanding stock of the covered small business concern, prior to and immediately following the provision of capital; and (ii) the provision of capital does not reduce the percentage of stock of the covered small business concern held by the employee stock ownership plan or eligible worker-owned cooperative (as applicable), excluding any synthetic equity; (22) the term covered small business concern — (A) means a small business concern