The Texas House of Representatives has passed HB 2389, “An Act relating to companies in which employees have ownership interests through employee stock ownership plans.” It will now head to the Senate, where, as SB 1233, it has already passed the International Affairs and Economic Development Committee by a vote of 8-0. The bill would:
This bill, sponsored by Republican Hugh Shine, has been shepherded by the persistent efforts of NCEO member Mike Hart of ESOP-owned EEA in Austin. If you want to support the effort to help this bill pass the Senate, contact Mike at MikeHart@eeace.com.