One ESOP bill passes in the House, another is introduced in the Senate.
The ESOP Association
ESOP Association Resources
Resource, ESOP Report, Legal Update, Ownership Advantage, Washington Report, President's Page, ESOP Communication Committee, Fitz-Gerald
May. 01
Jun. 06
After a concerted effort, Congress and the Administration are persuaded to improve the 1996 Subchapter S ESOP Law, and beginning in 1998 it becomes allowable for Subchapter S Corporations to sponsor an ESOP. Previously, S-corporations could not sponsor ESOPs because qualified retirement plans could not own stock in the sponsoring company.