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United States · Bill · HR

H.R. 4896 (118th)

Promotion and Expansion of Private Employee Ownership Act of 2023

referredUnited States· United States Congress· EN

Introduced

26 July 2023

Last action

26 July 2023 · Introduced

Status

Referred to the Committee on Ways and Means, and in addition to the Committees on Small Business, and Education and the Workforce, 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.

Sponsors

Rep. Kelly, Mike [R-PA-16], Rep. Blumenauer, Earl [D-OR-3], Rep. Wenstrup, Brad R. [R-OH-2], Rep. Miller, Carol D. [R-WV-1], Rep. Estes, Ron [R-KS-4], Rep. Pascrell, Bill, Jr. [D-NJ-9], Rep. Davis, Danny K. [D-IL-7], Rep. Sewell, Terri A. [D-AL-7], Rep. Moore, Blake D. [R-UT-1], Rep. Tenney, Claudia [R-NY-24], Rep. Boyle, Brendan F. [D-PA-2], Rep. Craig, Angie [D-MN-2], Rep. Wild, Susan [D-PA-7], Rep. Rouzer, David [R-NC-7], Jerry Carl, Rep. Fitzgerald, Scott [R-WI-5], Rep. Alford, Mark [R-MO-4], Rep. Bucshon, Larry [R-IN-8], Rep. Davids, Sharice [D-KS-3], Rep. Khanna, Ro [D-CA-17], Rep. Bonamici, Suzanne [D-OR-1], Rep. Grothman, Glenn [R-WI-6], Rep. Pettersen, Brittany [D-CO-7], Rep. Thompson, Glenn [R-PA-15], Rep. Fitzpatrick, Brian K. [R-PA-1], Rep. Steil, Bryan [R-WI-1], Rep. Schakowsky, Janice D. [D-IL-9], Rep. Kildee, Daniel T. [D-MI-5], Rep. Ruppersberger, C. A. Dutch [D-MD-2], Rep. Brownley, Julia [D-CA-26], Rep. Phillips, Dean [D-MN-3], Rep. Sánchez, Linda T. [D-CA-38], Rep. Kelly, Robin L. [D-IL-2], Rep. Flood, Mike [R-NE-1], Rep. Veasey, Marc A. [D-TX-33], Rep. Evans, Dwight [D-PA-3], Yadira Caraveo, Rep. Graves, Sam [R-MO-6], Rep. Smucker, Lloyd [R-PA-11], Rep. LaHood, Darin [R-IL-16], Rep. Kim, Young [R-CA-40], Jake LaTurner, Rep. Johnson, Dusty [R-SD-At Large], Rep. Bacon, Don [R-NE-2], Rep. Moolenaar, John R. [R-MI-2], Rep. Neguse, Joe [D-CO-2], Sen. Curtis, John R. [R-UT], Rep. Panetta, Jimmy [D-CA-19]

Subjects

Taxation, Education

Source updated

5 December 2025

Taxation · Education

Official sourceDownload fileView documentsShare

Summary

Promotion and Expansion of Private Employee Ownership Act of 2023 This bill accelerates to the enactment date of this bill the deferral of tax (currently, after December 31, 2027) on sales of employer stock to employee stock ownership plans (ESOPs) sponsored by S corporations. It also eliminates the limitation on the amount that may be deferred. The Department of the Treasury must establish the S Corporation Employee Ownership Assistance Office to foster increased employee ownership of S corporations. The office must provide education and outreach about the benefits of employee ownership of S corporations and technical assistance to assist S corporations in sponsoring ESOPs. The bill directs the Department of Labor to appoint an Advocate for Employee Ownership.

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

Timeline

  1. 26 July 2023

    Introduced

    Referred to the Committee on Ways and Means, and in addition to the Committees on Small Business, and Education and the Workforce, 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. 26 July 2023

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 26 July 2023

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN · 26 July 2023

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  • Introduced in House (PDF)

    Introduced in House · EN · 26 July 2023

    ViewDownloadOpen at official source

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  • Introduced in House

    summary · EN · 26 July 2023

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Sponsors

Showing 48 of 66 sponsors and actors.

Related records

Sources

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