AB 17: Relating to: creating an employee ownership conversion costs tax credit, a deduction for capital gains from the transfer of a business to employee ownership, and an employee ownership education and outreach program. (FE)
Topics
✓ Budget & TaxesSupports Budget & TaxesBill creates tax credits (70%/50% of conversion costs) and capital gains deduction to incentivize employee ownership transitions, directly using tax policy to promote economic development through fiscal incentives.
✓ Labor & EmploymentSupports Labor & EmploymentProvides tax incentives for employee ownership transitions, directly promoting worker stake in businesses and aligning with labor rights advancement through ownership models.
Sponsors
Ben Franklin
(R)
,
Francesca Hong
(D)
,
Ron Tusler
(R)
,
Rick Gundrum
(R)
,
Jim Piwowarczyk
(R)
+18 more