HR 477, The Small Business Mergers, Acquisitions, Sales and Brokerage Simplification Act of 2017, passed the US House of Representatives UNANIMOUSLY on Thursday, by a recorded vote of 426-0!
The bill will now move to the US Senate, where it will be referred to the Senate Banking Committee, and where this strong, bi-partisan final vote by the House will go a long way to ensuring prompt consideration and passage.
Thanks to all of you who have been reaching out to your US Representatives and urging their co-sponsorship /support of HR 477. We will be asking you to repeat this drill with your US Senators once the bill is introduced in the Senate.
Special thanks to all of you who have contributed financially to support this industry-wide initiative. This campaign wouldn't have been possible without your financial support.
In closing, I would be remiss not to ask everyone once again to consider a meaningful financial contribution to the Campaign for Clarity. Even if you've contributed in the past, please consider increasing your support by making an additional contribution or pledge - perhaps tied to your next big closing.
In the 11+ years since its inception, the Campaign has incurred legal and lobbying expenses of ~$920,000 and raised ~$500,000 from voluntary contributions from individuals and firms like yours who recognize this is a rice bowl issue for our entire profession, as well as for the owners of privately held businesses whom we assist.
The not-for-profit, Business Intermediaries Education Foundation (BIEF) has taken the lead role in raising funds for this and other issues that concern the entire profession. While cash, check and credit card contributions are greatly appreciated, you may be more comfortable contributing something now, and pledging to contribute more in the future, perhaps tied to your next big closing.
- Click here for a BIEF Contribution /Pledge Card
- Click here of a list of BIEF Leadership Contributors
As ever, if you have any questions, please don't hesitate to call/contact me, or one of my co-chairs, Jim Cornell (President, Praxiis Business Advisors, 716.675.6001 x223, email@example.com), or John Johnson (President, IBG /BluestemUSA, (918) 749-6016, JJohnson@bluestemusa.com), or Linda Purcell (Founder, Purcell Associates, LLC, (847) 358-9404, firstname.lastname@example.org).
Mike Ertel, BSEE, MSIA, CBI, M&AMI, CM&AA
Co-Chair, Campaign for Clarity
Managing Director, Broker
Transworld M&A Advisors
400 Carillon Parkway, Suite 110
Saint Petersburg, FL 33716