Texas ESOP Legislative Update
Texas – House Bill 1198 & Senate Bill 1650, would allow a professional corporation to organize as ESOPs as long as all of the voting trustees are licensed; establish the Employee Ownership Assistance OFfice in the Office of the Governor / Texas Economic Development and Tourism Office; allow certified HUBs to transition ton an ESOP structure without forfeiting HUB status; and create contracting preferences for ESOPs for the state, cities, counties, and special districts. HB 1198 is scheduled for a hearing on April 8th 2019. See The ESOP Association for more information on how you might support this legislation.