Are you an Indiana ESOP or are you an Indiana ESOP Professional?  If yes this is your opportunity to make your voice heard in reference to Senate Resolution 35.  My understanding is that the Indiana Legislative Council will meet on May 21 – So the time to communicate with our legislators is NOW!

As you may know INCEO has been working with Senator John Crane (IN-R-24) on Senate Resolution 35 which urges legislative council to assign the topic of Employee Stock Ownership Plans to an appropriate study committee.

The purpose of the study is to examine if Indiana should provide a gross income tax exclusion for capital gains from the sale of employer securities to an employee stock ownership plan, and the feasibility and desirability of promoting and growing ESOPs and employee ownership in Indiana.

The Resolution passed out of the Senate Commerce and Technology Committee 9-0; and was adopted by voice vote in the Senate last week.  The next steps are for the Legislative Committee to agree to assign the resolution to committee this will happen in the next few weeks.  So I need your help in communicating with the following Indiana State Senators/Representatives to support assigning SR 35 to a study committee.

If you are willing to contact the above Indiana legislators, a template is available here that you may use on your company’s letterhead.  You may also communicate to the above members of the Legislative Council by Email to express your support.

I appreciate your help and support!  If assigned to a study committee my hope is that we may gain an incentive for ESOP formation, support for ESOPs within the state and perhaps get a set aside provision for state contracts. Please contact me if you have any questions  Thanks again – Rick