ESOP Promotion Act of 1995

Summary

ESOP Promotion Act of 1995 - Amends the Internal Revenue Code to allow S corporations (certain small business corporations) to participate in employee stock ownership plans (ESOPs). Allows ESOP closely-held corporate sponsors to pay estate tax if an estate transferred the stock of the corporation to an ESOP. Allows the deductibility of ESOP dividends in computing alternative minimum tax if such dividends were paid on employee securities held by an ESOP established or authorized to be established before March 15, 1991. 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. Revises the voting rights requirement for an ESOP under the exclusion for interest on certain loans used to acquire employer securities by requiring that: (1) the employer of the plan has a registration-type class of securities; or (2) the plan allows each participant one vote. 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.

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

Timeline

1. 7 December 1995

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 7 December 1995

   Introduced

   Introduced in House

   Source: IntroReferral

3. 7 December 1995

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 7 December 1995 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 7 December 1995

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 7 December 1995

  ViewDownloadOpen at official source

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  Vertaal document

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• Introduced in House

  summary · EN · 7 December 1995

  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. Rohrabacher, Dana [R-CA-48] · R · Sponsor
• Rep. Payne, Lewis F., Jr. [D-VA-5] · D · Sponsor
• Rep. Barr, Bob [R-GA-7] · R · Cosponsor
• Rep. Armey, Richard K. [R-TX-26] · R · Cosponsor
• Rep. DeLay, Tom [R-TX-22] · R · Cosponsor
• Rep. Boehner, John A. [R-OH-8] · R · Cosponsor
• Rep. Tauzin, W. J. (Billy) [R-LA-3] · R · Cosponsor
• Sen. Bunning, Jim [R-KY] · R · Cosponsor
• Rep. Coble, Howard [R-NC-6] · R · Cosponsor
• Rep. Ehrlich, Robert L., Jr. [R-MD-2] · R · Cosponsor
• Rep. Fawell, Harris W. [R-IL-13] · R · Cosponsor
• Rep. Goss, Porter J. [R-FL-14] · R · Cosponsor
• Rep. Gunderson, Steve [R-WI-3] · R · Cosponsor
• Rep. Hansen, James V. [R-UT-1] · R · Cosponsor
• Rep. Hastert, J. Dennis [R-IL-14] · R · Cosponsor
• Rep. Hoekstra, Peter [R-MI-2] · R · Cosponsor
• Sen. Hutchinson, Tim [R-AR] · R · Cosponsor
• Rep. Ramstad, Jim [R-MN-3] · R · Cosponsor
• Sen. Roberts, Pat [R-KS] · R · Cosponsor
• Rep. Solomon, Gerald B. H. [R-NY-22] · R · Cosponsor
• Rep. Zeliff, William H., Jr. [R-NH-1] · R · Cosponsor
• Sen. Burr, Richard [R-NC] · R · Cosponsor
• Rep. Packard, Ron [R-CA-48] · R · Cosponsor
• Rep. Moorhead, Carlos J. [R-CA-22] · R · Cosponsor
• Rep. Fowler, Tillie [R-FL-4] · R · Cosponsor
• Rep. Hobson, David L. [R-OH-7] · R · Cosponsor
• Rep. Royce, Edward R. [R-CA-39] · R · Cosponsor
• Rep. Manzullo, Donald A. [R-IL-16] · R · Cosponsor
• Rep. Meyers, Jan [R-KS-3] · R · Cosponsor
• Rep. Johnson, Nancy L. [R-CT-5] · R · Cosponsor
• · hswm00 · Standing

Related records

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