Promotion and Expansion of Private Employee Ownership Act of 2021

Summary

Promotion and Expansion of Private Employee Ownership Act of 2021 This bill expands tax incentives and federal assistance for employee stock ownership plans (ESOPs) that are sponsored by S corporations. The bill provides additional tax incentives for ESOPs by (1) extending to all domestic corporations, including S corporations, provisions allowing deferral of tax on gain from the sale of employer securities to an ESOP; and (2) allowing a tax deduction for 50% of the interest received by a bank on loans to S corporation-sponsored ESOPs for the purchase of employer securities. The Department of the Treasury must establish the S Corporation Employee Ownership Assistance Office to foster increased employee ownership of S corporations. The bill defines an ESOP business concern for purposes of the Small Business Act as a business concern that was eligible for a loan, preference, or other program under such Act before more than 49% of the business concern was acquired by an ESOP.

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

Timeline

1. 24 June 2021

   Introduced

   Referred to the Committee on Ways and Means, and in addition to the Committees on Small Business, and Education and Labor, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

2. 24 June 2021

   Introduced

   Introduced in House

   Source: IntroReferral

3. 24 June 2021

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 24 June 2021 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 24 June 2021

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 24 June 2021

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 24 June 2021

  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. Kind, Ron [D-WI-3] · D · Sponsor
• Rep. Smith, Jason [R-MO-8] · R · Sponsor
• Rep. Blumenauer, Earl [D-OR-3] · D · Sponsor
• Rep. Kelly, Mike [R-PA-16] · R · Sponsor
• Rep. Pascrell, Bill, Jr. [D-NJ-9] · D · Sponsor
• Rep. Reed, Tom [R-NY-23] · R · Sponsor
• Rep. Davis, Danny K. [D-IL-7] · D · Cosponsor
• Rep. Walorski, Jackie [R-IN-2] · R · Cosponsor
• Rep. Brooks, Mo [R-AL-5] · R · Cosponsor
• Rep. Davis, Rodney [R-IL-13] · R · Cosponsor
• Rep. Phillips, Dean [D-MN-3] · D · Cosponsor
• Rep. Smucker, Lloyd [R-PA-11] · R · Cosponsor
• Rep. Sánchez, Linda T. [D-CA-38] · D · Cosponsor
• Rep. Kildee, Daniel T. [D-MI-5] · D · Cosponsor
• Rep. Evans, Dwight [D-PA-3] · D · Cosponsor
• Rep. Keller, Fred [R-PA-12] · R · Cosponsor
• Rep. Kelly, Robin L. [D-IL-2] · D · Cosponsor
• Rep. Owens, Burgess [R-UT-4] · R · Cosponsor
• Rep. Boyle, Brendan F. [D-PA-2] · D · Cosponsor
• Rep. Burchett, Tim [R-TN-2] · R · Cosponsor
• Rep. Crawford, Eric A. "Rick" [R-AR-1] · R · Cosponsor
• Rep. Suozzi, Thomas R. [D-NY-3] · D · Cosponsor
• Rep. Higgins, Brian [D-NY-26] · D · Cosponsor
• Rep. Cline, Ben [R-VA-6] · R · Cosponsor
• Rep. McMorris Rodgers, Cathy [R-WA-5] · R · Cosponsor
• Rep. Hartzler, Vicky [R-MO-4] · R · Cosponsor
• Rep. Kim, Young [R-CA-40] · R · Cosponsor
• Sen. Curtis, John R. [R-UT] · R · Cosponsor
• Sen. Mullin, Markwayne [R-OK] · R · Cosponsor
• Rep. Wenstrup, Brad R. [R-OH-2] · R · Cosponsor
• Rep. Arrington, Jodey C. [R-TX-19] · R · Cosponsor
• Rep. Moore, Blake D. [R-UT-1] · R · Cosponsor
• Van Taylor · R · Cosponsor
• Rep. Barragán, Nanette Diaz [D-CA-44] · D · Cosponsor
• Rep. Grothman, Glenn [R-WI-6] · R · Cosponsor
• Rep. Titus, Dina [D-NV-1] · D · Cosponsor
• Jim Hagedorn · R · Cosponsor
• Rep. Davids, Sharice [D-KS-3] · D · Cosponsor
• Rep. Dean, Madeleine [D-PA-4] · D · Cosponsor
• Rep. Smith, Adrian [R-NE-3] · R · Cosponsor
• Rep. Aderholt, Robert B. [R-AL-4] · R · Cosponsor
• Rep. Steil, Bryan [R-WI-1] · R · Cosponsor
• Rep. Long, Billy [R-MO-7] · R · Cosponsor
• Rep. Foster, Bill [D-IL-11] · D · Cosponsor
• Rep. Tonko, Paul [D-NY-20] · D · Cosponsor
• Rep. Mann, Tracey [R-KS-1] · R · Cosponsor
• Rep. Ferguson, A. Drew, IV [R-GA-3] · R · Cosponsor
• Rep. Brownley, Julia [D-CA-26] · D · Cosponsor

Showing 48 of 77 sponsors and actors.

Related records

• related to → Promotion and Expansion of Private Employee Ownership Act of 2021
• related to ← Promotion and Expansion of Private Employee Ownership Act of 2019