A bill to amend the Internal Revenue Code of 1954 to require that employee stock ownership plans financed through an additional investment credit be non-discriminatory to any group of employees.

Summary

Amends the Internal Revenue Code to expand the participation requirements of employee stock ownership plans by disallowing the 11 percent investment credit for funding the plans if they exclude any employees, including employees otherwise covered by collective bargaining arrangements, from participation.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 3 April 1978

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 3 April 1978

   Introduced

   Introduced in House

   Source: IntroReferral

3. 3 April 1978

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 3 April 1978

  Open at official source

Sponsors

• Rep. Murphy, Austin J. [D-PA-22] · D · Sponsor
• · hswm00 · Standing

Related records

• related to ← A bill to amend the Internal Revenue Code of 1954 to require that employee stock ownership plans financed through an additional investment credit be nondiscriminatory to any group of employees.