On Friday, December 23rd, President Biden signed HR 2617. the Consolidated Appropriation Bill for FY 2023, into law.
Among its many provisions was Division AA, Title V, The Small Business Mergers, Acquisitions, Sales & Brokerage Simplification Act of 2021. (Complete text available here)
This has taken a very long time to accomplish, but that day has finally arrived!
BIEF’s immediate next step is to raise enough money to completely pay the legal and other expenses of conducting this campaign, and still leave enough dry powder in the BIEF treasury to anticipate the next challenge to our profession that will require an industry-wide response.
In closing, I would be remiss not to ask you to consider a meaningful financial contribution to the BIEF Campaign for Clarity. In the 15 years since its inception, the Campaign has incurred legal and lobbying expenses of over $1,000,000 and raised more than $750,000 from voluntary contributions from individuals and firms like yours who recognize this has been 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. Help us by providing financial support for this new and extraordinary professional accomplishment: