GOVERNMENT AFFAIRS NEWS​

This article is written by Aviva Gordon, Esquire, Legislative Committee Chair, Henderson Chamber of Commerce . This blog has been updated to reflect the most recent court decision. UPDATE: THE FIFTH COURT OF APPEALS HAS REVERSED THE TEXAS COURT’S INJUNCTION CONCERNING THE REQUIRED FILING OF BENEFICIAL OWNERSHIP INFORMATION . IF YOU HAVE NOT ALREADY SUBMITTED YOUR INFORMATION, YOU MUST DO SO BY JANUARY 13, 2025. Background on the Corporate Transparency Act (CTA) The CTA, which went into effect on January 1, 2024, mandates that most entities created or registered under state law in the United States disclose detailed information about their beneficial owners to the Financial Crimes Enforcement Network (FinCEN). This requirement was intended to combat illicit activities such as money laundering and terrorism financing by increasing transparency in corporate ownership. The Court's Decision The case, Texas Top Cop Shop, Inc., et al. v. Garland, et al., challenged the constitutionality of the CTA. The lower court found that the CTA likely exceeds Congress's legislative powers and poses significant threats to constitutional rights. The court described the Act as "quasi-Orwellian" and expressed concerns that it could set a dangerous precedent for federal overreach. On December 23, 2024, the Fifth Court of Appeals stayed the Texas court’s decision, compelling compliance with the filing requirements. What's Next? There may be more whiplash in the coming days on this issue. We will do all that we can to provide you with timely updates. The Henderson Chamber of Commerce is committed to keeping our membership informed, ensuring they are up to date with the latest requirements, and providing support in navigating this regulatory landscape. Trust that we will keep abreast of any developments and promptly communicate pertinent information to our valued members.

In today’s rapidly evolving business landscape, Henderson Libraries have become more than just knowledge centers—they are invaluable resources for fostering local business growth and supporting economic development. They are adapting to the needs of businesses, entrepreneurs, and job seekers, playing a crucial role in the success of the local economy.

This November, Henderson voters will have two Henderson Question Number 1s on their ballot: Henderson Fire Question 1 and Henderson Libraries Question 1. Both ballot measures are requesting an increase in property taxes to help fund vital resources to our growing city.

Henderson Chamber of Commerce Political Action Committee Endorses 41 Candidates for 2024 General Election

The Federal Trade Commission (FTC) recently faced a significant judicial challenge regarding its new rule aimed at banning non-compete agreements . This rule, which was set to take effect on September 4, 2024, has been a topic of intense debate and legal scrutiny. Here’s a detailed look at the developments and implications of this judicial challenge. The FTC introduced the non-compete rule in May 2024, with the goal of prohibiting almost all non-compete agreements between employers and workers. The FTC argued that these agreements constituted unfair methods of competition, which are prohibited under Section 5 of the FTC Act. The rule was seen as a bold move to protect workers’ rights and promote fair competition in the labor market. On August 20, 2024, U.S. a case brought in Texas granted the plaintiffs’ motion for summary judgment , setting aside the FTC’s non-compete rule nationwide . The court reaffirmed that the FTC exceeded its statutory authority and that the rule was arbitrary and capricious . This ruling prevents the rule from taking effect on its scheduled date of September 4, 2024 . The nationwide injunction has significant implications. It prevents the FTC from enforcing the rule across the entire United States, not just against the plaintiffs involved in the case . This decision marks a major setback for the FTC’s efforts to regulate non-compete agreements through broad rulemaking. The FTC has indicated that it is seriously considering an appeal of Judge Brown’s decision . Additionally, other legal challenges are pending in federal courts in Pennsylvania and Florida, which could lead to different outcomes and potentially create a circuit split . This situation sets the stage for a possible review by the U.S. Supreme Court. The judicial challenge to the FTC non-compete rule highlights the complexities and controversies surrounding regulatory authority and labor market regulations. As the legal battles continue, the future of non-compete agreements in the United States remains uncertain. Employers and workers alike should stay informed about these developments, as the outcomes will have far-reaching impacts on employment practices and competition law.

Henderson Chamber of Commerce Political Action Committee Endorses 39 Candidates for 2024 Primary Election

This article is written by Aviva Gordon, Esquire, Legislative Committee Chair, Henderson Chamber of Commerce

Unveiling the 82nd Legislative Session Recap

Happy 20th Anniversary IMPAC!