This morning I received notification from Congress.Gov of an update to one of the bills INCEO is tracking on our federal legislation page.

H.R. 2293, whose purpose is to amend the Internal Revenue Code of 1986 for purposes of the tax on private foundation excess business holdings to treat as outstanding any employee-owned stock purchased by a business enterprise pursuant to certain employee stock ownership retirement plans, has a new cosponsor!

Representative Adrian Smith (R-NE-3) cosponsored the bill 7/11/18!  This bill enjoys bipartisan support with 10 Republicans and 7 Democrats co-sponsoring this bill.

Please send Rep Smith a thank you note for his support of this ESOP legislation.

Thanks – Rick