To amend the Internal Revenue Code of 1986 for purposes of the tax on private foundation excess business holdings to treat as outstanding any employee-owned stock purchased by a business enterprise pursuant to certain employee stock ownership retirement plans.

Summary

This bill amends the Internal Revenue Code to exclude certain purchases of employee-owned stock from being considered as outstanding voting stock for the purpose of the tax on excess business holdings of a private foundation in a business enterprise. The bill applies to any voting stock that is: (1) not readily tradable on an established securities market; (2) purchased by the business enterprise on or after January 1, 2005, from a stock bonus or profit sharing plan in which employees of the business enterprise participate, in connection with a distribution from the plan; and (3) held by the business enterprise as treasury stock, cancelled, or retired.

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

Timeline

1. 2 May 2017

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 2 May 2017

   Introduced

   Introduced in House

   Source: IntroReferral

3. 2 May 2017

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 2 May 2017 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 2 May 2017

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 2 May 2017

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 2 May 2017

  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. Holding, George [R-NC-2] · R · Sponsor
• Rep. Levin, Sander M. [D-MI-12] · D · Sponsor
• Rep. Reed, Tom [R-NY-23] · R · Cosponsor
• Carlos Curbelo · R · Cosponsor
• Rep. Sessions, Pete [R-TX-17] · R · Cosponsor
• Rep. Upton, Fred [R-MI-6] · R · Cosponsor
• Rep. Gaetz, Matt [R-FL-1] · R · Cosponsor
• Rep. Soto, Darren [D-FL-9] · D · Cosponsor
• Rep. Hastings, Alcee L. [D-FL-20] · D · Cosponsor
• Rep. Webster, Daniel [R-FL-11] · R · Cosponsor
• Rep. Rooney, Thomas J. [R-FL-17] · R · Cosponsor
• Rep. Wasserman Schultz, Debbie [D-FL-25] · D · Cosponsor
• Rep. Lawson, Al, Jr. [D-FL-5] · D · Cosponsor
• Rep. Wilson, Frederica S. [D-FL-24] · D · Cosponsor
• Rep. Ross, Dennis A. [R-FL-15] · R · Cosponsor
• Rep. Murphy, Stephanie N. [D-FL-7] · D · Cosponsor
• Rep. Rutherford, John H. [R-FL-5] · R · Cosponsor
• Rep. Smith, Adrian [R-NE-3] · R · Cosponsor
• · hswm00 · Standing

Related records

• related to → Shiloh National Military Park Boundary Adjustment and Parker's Crossroads Battlefield Designation Act
• related to ← A bill to amend the Internal Revenue Code of 1986 for purposes of the tax on private foundation excess business holdings to treat as outstanding any employee-owned stock purchased by a business enterprise pursuant to certain employee stock ownership retirement plans.
• related to ← To amend the Internal Revenue Code of 1986 for purposes of the tax on private foundation excess business holdings to treat as outstanding any employee-owned stock purchased by a business enterprise pursuant to certain employee stock ownership retirement plans.