Nov. 04, 2019
WHAT: Representatives Daryl Metcalfe (R-Butler) and Valerie Gaydos (R-Allegheny) will participate in a sit-down conservation/tour with the ownership and staff of Nicklas Plumbing Inc. and several financial experts to discuss the many benefits and advantages that Employee Stock Ownership Plans (ESOPs) have for family-owned businesses, communities and the economy.
Metcalfe is the prime sponsor of legislation which would apply certain provisions of the federal tax code to permit the deferral of lump sum distributions to ESOPs at the state level (House Bill 285). Gaydos is a co-sponsor of House Bill 285.
Pennsylvania and Arkansas are the only states that do not recognize and/or mirror this deferral. Currently there are about 300 ESOP companies across Pennsylvania, including Wawa, Sheetz and Dansko.
WHEN: Wednesday, Nov. 6.
ITINERARY: Sit-down conversation, 11 a.m; Facility tour/meet employees, 11:20 a.m.; Press greeting/Q&A, 11:45 a.m.
WHERE: Nicklas Supply Inc., 1237 Freedom Road, Cranberry Township.
Rep. Daryl Metcalfe
12th Legislative District
Rep. Valerie Gaydos
44th Legislative District
Pennsylvania House of Representatives