ESOP Promotion Act of 1997

Summary

ESOP Promotion Act of 1997 - Repeals provisions of the Small Business Job Protection Act of 1996 which made certain employee stock ownership plans (ESOP) benefits inapplicable to S corporations (certain small business corporations). Allows ESOP closely-held corporate sponsors to pay estate tax if an estate transferred the stock of the corporation to an ESOP. Permits ESOP dividends to be reinvested without losing the dividend deduction. Excludes from gross income transfers of qualified securities in connection with the performance of services if such securities are sold to an ESOP within 60 days of the taxable event. Allows for a qualified gratuitous transfer of remainder interest in qualified employer securities to an ESOP following the termination of payments to a charitable remainder annuity trust or a charitable remainder unitrust. Provides that securities acquired by an ESOP in a qualified gratuitous transfer allocated to any person who is related to the decedent or to any person who is a five percent shareholder be treated as having been distributed.

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Timeline

1. 14 May 1997

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 14 May 1997

   Introduced

   Sponsor introductory remarks on measure. (CR E919-910)

   Source: IntroReferral

3. 14 May 1997

   Introduced

   Introduced in House

   Source: IntroReferral

4. 14 May 1997

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 14 May 1997 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 14 May 1997

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 14 May 1997

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 14 May 1997

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Ballenger, Cass [R-NC-10] · R · Sponsor
• Rep. Levin, Sander M. [D-MI-12] · D · Sponsor
• Rep. Rohrabacher, Dana [R-CA-48] · R · Sponsor
• Rep. Jefferson, William J. [D-LA-2] · D · Sponsor
• Rep. Johnson, Nancy L. [R-CT-5] · R · Sponsor
• Rep. Thurman, Karen L. [D-FL-5] · D · Sponsor
• Rep. Ramstad, Jim [R-MN-3] · R · Sponsor
• Rep. McCrery, Jim [R-LA-4] · R · Cosponsor
• Rep. Neal, Richard E. [D-MA-1] · D · Cosponsor
• Rep. Fowler, Tillie [R-FL-4] · R · Cosponsor
• Rep. Traficant, James A., Jr. [D-OH-17] · D · Cosponsor
• Rep. Klug, Scott L. [R-WI-2] · R · Cosponsor
• Rep. Lipinski, William O. [D-IL-3] · D · Cosponsor
• Rep. Jones, Walter B., Jr. [R-NC-3] · R · Cosponsor
• Rep. Cunningham, Randy (Duke) [R-CA-50] · R · Cosponsor
• Rep. Goss, Porter J. [R-FL-14] · R · Cosponsor
• Rep. Davis, Danny K. [D-IL-7] · D · Cosponsor
• Rep. Petri, Thomas E. [R-WI-6] · R · Cosponsor
• Rep. Smith, Adam [D-WA-9] · D · Cosponsor
• Rep. Canady, Charles T. [R-FL-12] · R · Cosponsor
• Rep. Thornberry, Mac [R-TX-13] · R · Cosponsor
• Rep. Evans, Lane [D-IL-17] · D · Cosponsor
• Rep. McKeon, Howard P. "Buck" [R-CA-25] · R · Cosponsor
• Rep. Paul, Ron [R-TX-14] · R · Cosponsor
• Rep. Weller, Jerry [R-IL-11] · R · Cosponsor
• Rep. Olver, John W. [D-MA-1] · D · Cosponsor
• · hswm00 · Standing

Related records

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