ESOP Promotion Act of 1999

Summary

ESOP Promotion Act of 1999 - Amends Internal Revenue Code provisions relating to deductions for dividends paid on certain employer securities to allow dividends of employee stock ownership plans (ESOP) to be reinvested without loss of the dividend deduction. Allows ESOP closely-held corporate sponsors to pay estate tax if an estate transferred the stock of the corporation to an ESOP. 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. Permits, without payment of the ten-percent additional tax on early distributions from qualified retirement plans and under specified conditions, early distributions from employee stock ownership plans for qualified higher education expenses and qualified first-time homebuyer purchases.

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Timeline

1. 10 June 1999

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 10 June 1999

   Introduced

   Sponsor introductory remarks on measure. (CR E1225-1226)

   Source: IntroReferral

3. 10 June 1999

   Introduced

   Introduced in House

   Source: IntroReferral

4. 10 June 1999

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 10 June 1999 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 10 June 1999

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 10 June 1999

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 10 June 1999

  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. 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. Rohrabacher, Dana [R-CA-48] · R · Sponsor
• Rep. Levin, Sander M. [D-MI-12] · D · Sponsor
• Rep. Barton, Joe [R-TX-6] · R · Cosponsor
• Rep. Paul, Ron [R-TX-14] · R · Cosponsor
• Rep. Weldon, Curt [R-PA-7] · R · Cosponsor
• Rep. Hayes, Robin [R-NC-8] · R · Cosponsor
• Rep. Royce, Edward R. [R-CA-39] · R · Cosponsor
• · hswm00 · Standing

Related records

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