Welcome to your August issue of the ESOP Report
This month we've packed the report with tons of articles and news about ESOPs that you won't want to miss!
The ESOP Association
ESOP Association Resources
Aug. 23
Inside this issue
Recap of TEA National Conference 2024 - Advocacy Day
Palmer-Donavin - Chapter Company of the Year
Cinnamon King- Chapter Employee- Owner of the Year
Meet Your OH/KY Chapter Officers
New Member Spotlight
Thank Our Sponsors
Read the full issue >>
Recap of TEA National Conference 2024 - Advocacy Day
Palmer-Donavin - Chapter Company of the Year
Cinnamon King- Chapter Employee- Owner of the Year
Meet Your OH/KY Chapter Officers
New Member Spotlight
Thank Our Sponsors
Read the full issue >>
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Aug. 02
The Senate Committee on Appropriations has passed several provisions that support employee ownership and ESOPs in the Fiscal 2025 Financial Services and General Government Appropriations bill. All three provisions were included in the Small Business Administration (SBA) portion of the Appropriations Committee report accompanying the bill text, which provides instruction and direction from Congress to Federal agencies about their budget, goals, and initiatives. The full Committee approved the funding package in a unanimous 27-0 vote.
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Aug. 01
The Senate Committee on Appropriations has directed $2 million to fund the grant program of the Department of Labor’s Employee Ownership Initiative in the Fiscal 2025 Labor, Health and Human Services, Education, and Related Agencies Appropriations bill. The full Committee approved the funding package on a strongly bipartisan 25-3 vote.
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Dec. 29
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.
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Dec. 21
Happy Holidays from Your Friends at The ESOP Association!
The ESOP Report will return in early January 2023 with all the news, content, and announcements you expect from The ESOP Association.
The ESOP Report will return in early January 2023 with all the news, content, and announcements you expect from The ESOP Association.
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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.
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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.
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Dec. 07
The ESOP Association has been working with Congress during this congressional session on bipartisan retirement security legislation. That important legislation – which includes provisions that affect every ESOP and employee ownership in general – is being considered in the final days of the current Congress. If this bill, which was painstakingly negotiated and enjoys broad bipartisan support, doesn’t pass now, the entire legislative process must start over next year.
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Employee Owned
Dec. 02
Thank you to the more than 2,000 employee owners and ESOP professionals who attended Employee Owned 2022 at Caesars Palace in Las Vegas!
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