To amend the Internal Revenue Code of 1986 to exclude from gross income compensation received by employees consisting of qualified distributions of employer stock.

Summary

Amends the Internal Revenue Code to exclude from the gross income of an employee: (1) shares of employer securities received in a qualified employee stock distribution as compensation for services that do not exceed the lowest number of employer securities received by any employee in such distribution; (2) any gain on such securities if held by an employee for not less than 10 years; and (3) in the case of any qualified disposition of an employer security that meets such 10-year holding requirement, any gain on so much stock acquired during the 60-day period beginning on the date of such disposition as does not exceed the fair market value of the employer security so disposed. Allows employers a tax deduction for the fair market value of securities transferred in a stock distribution. Requires an employee to recapture in gross income the amount of employer securities excluded from gross income if such securities are disposed of within five years after receipt.

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Timeline

1. 25 February 2014

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 25 February 2014

   Introduced

   Introduced in House

   Source: IntroReferral

3. 25 February 2014

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 25 February 2014 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 25 February 2014

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 25 February 2014

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 25 February 2014

  Open at official source

Sponsors

• DANA ROHRABACHER · R · Sponsor
• David McKinley · R · Sponsor
• WALTER JONES · R · Sponsor
• · hswm00 · Standing

Related records

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