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SECURE Act 2.0 Passes House: Includes Provisions Benefitting ESOPs

The U.S. House of Representatives passed H.R. 2954, the Securing A Strong Retirement Act (SECURE 2.0) by a massive bi-partisan majority of 414 to 5.  Included in the House-passed version are two provisions that will assist Employee Stock Ownership Plans (ESOPs) or business owners seeking to establish them.

TEA Praises Inclusion of Employee Ownership Provisions in Spending Bill likely to Become Law

On March 9th, the House passed H.R. 2471, an approximately $1.5 trillion omnibus spending bill consisting of all 12 fiscal year 2022 appropriations bills plus supplemental funding of $14 billion to support Ukraine and other measures.  The legislation passed in two pieces with two votes, each of which had bipartisan support. The Senate is expected to act and pass the bill before week’s end.  Most importantly for TEA members, the bill includes some wins for employee ownership.

Legislation Eliminating Iowa Retirement Income Tax, Including ESOPs, Signed Into Law

Des Moines Iowa, March 1, 2022 –Today Iowa Governor Kim Reynolds returned to Library Binding Services (LBS Inc.), a 100% employee-owned business, to sign into law legislation to eliminate state taxes on retirement income, including taxes on Employee Stock Ownership Plans (ESOP) distributions.  This important change has the power to motivate

February 2022 ESOP Report

The February ESOP Report is packed with content. The ESOP Report is a member benefit. If you, or someone you know, would like to receive a copy of the ESOP Report please join The ESOP Association.

The ESOP Association Congratulates Iowa Governor Reynolds on Economic Security Proposal

Des Moines Iowa, February 2, 2022 – Iowa Governor Kim Reynolds today visited Library Binding Services (LBS Inc.), a 100% Employee Owned business, to promote a plan that would eliminate state taxes for retirement plans, including ESOPs, and would encourage more Iowa business owners to sell their businesses to their employees as a retirement succe

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