Employee Stock Ownership Plan Promotion and Improvement Act of 2004

Summary

Employee Stock Ownership Plan Promotion and Improvement Act of 2004 - Amends the Internal Revenue Code to: (1) treat certain distributions by S corporations to an employee stock ownership plan (ESOP) as deductible dividends; (2) exempt deductions for ESOP dividends from corporate alternative minimum tax adjustments based on adjusted earnings and profits; (3) allow deferral of the recognition of gain for certain sales to ESOP's sponsored by any domestic corporation, including S corporations; (4) allow reinvestment of ESOP stock proceeds eligible for nonrecognition of gain in certain mutual funds; (5) modify certain ESOP stock ownership rules; and (6) allow early distributions from an ESOP for higher education expenses and first-time homebuyer purchases without penalty.

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Timeline

1. 9 July 2004

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 9 July 2004

   Introduced

   Sponsor introductory remarks on measure. (CR E1343-1344)

   Source: IntroReferral

3. 9 July 2004

   Introduced

   Introduced in House

   Source: IntroReferral

4. 9 July 2004

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 9 July 2004 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 9 July 2004

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 9 July 2004

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 9 July 2004

  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. Cantor, Eric [R-VA-7] · R · Sponsor
• Rep. Rohrabacher, Dana [R-CA-48] · R · Sponsor
• Rep. Goode, Virgil H., Jr. [R-VA-5] · R · Sponsor
• Rep. Paul, Ron [R-TX-14] · R · Sponsor
• Rep. Platts, Todd Russell [R-PA-19] · R · Sponsor
• Rep. Davis, Jo Ann [R-VA-1] · R · Cosponsor
• Rep. Manzullo, Donald A. [R-IL-16] · R · Cosponsor
• · hswm00 · Standing

Related records

• related to ← Employee Stock Ownership Plan Promotion and Improvement Act of 2004