The Consolidated Appropriations Act of 2023 (P.L. 117-328) includes the Worker Opportunity, Readiness and Knowledge (WORK) Act, sponsored by Senators Bernie Sanders (I-VT) and Jerry Moran (R-KS), which creates the Employee Ownership Initiative at the DOL to promote employee ownership and directs the DOL to provide formal guidance on the vital issue of properly valuing shares of company stock to be bought by an ESOP– a key rule long missing from the ESOP regulatory landscape. The law included new provisions allowing S corporation ESOPs limited use of section 1042 tax deferral.
The ESOP Association
ESOP Association Resources
Dec. 20
Congressional negotiators early this morning released the Consolidated Appropriations Act of 2023 which includes numerous top priority provisions sought by The ESOP Association on behalf of its membership.
Dec. 14
The ESOP Association released the following statement on the unexpected passing of Will Raap, a visionary leader in employee ownership, organic gardening, and locally sourced and sustainable food.
Resource, Press Releases
Feb. 07
Washington, DC, February 7, 2019 – The ESOP Association (TEA) announced today that James J. Bonham will assume the role of President and Chief Executive Officer (CEO) on March 1. Founded in 1978, TEA is America’s largest national trade association focused on advancing employee ownership through the Employee Stock Ownership Plan (ESOP) model.
Bonham will also serve as President of the Employee Ownership Foundation, an affiliated non-profit with a mission to encourage, educate, and catalyse new research in support of employee ownership nationwide.