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.
Mar. 16
In response to the rapidly spreading COVID-19 virus, the city of Washington, D.C., has banned gatherings in the nation’s capital of more than 250 participants. Accordingly, we are cancelling our National Conference, scheduled to take place May 20-22. While we are disappointed we will be unable to gather with the ESOP community in May, we fully appreciate and support government efforts to slow the spread of the virus and prevent our nation’s health care system from being overwhelmed.
Mar. 12
Today, following ongoing reports and announcements from the World Health Organization (WHO) and the Centers for Disease Control and Prevention (CDC), The ESOP Association announced it will postpone all events between March 14 and April 27.
Read More
Read More