Employee Stock Ownership Plan Promotion and Improvement Act of 2010

Summary

Employee Stock Ownership Plan Promotion and Improvement Act of 2010 - Amends the Internal Revenue Code to: (1) exempt certain distributions, including dividends, by S corporations to an employee stock ownership plan (ESOP) from the penalty tax for premature employee benefit plan withdrawals; (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 ESOPs sponsored by any domestic corporation, including S corporations; (4) allow reinvestment of ESOP stock proceeds eligible for nonrecognition of gain in certain mutual funds; and (5) modify certain ESOP stock ownership rules. Amends the Small Business Act to allow a majority-owned ESOP business concern to continue to qualify for loans, preferences, and other programs under such Act.

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Timeline

1. 5 May 2010

   Introduced

   Referred to House Ways and Means

   Source: IntroReferral

2. 5 May 2010

   Introduced

   Introduced in House

   Source: IntroReferral

3. 5 May 2010

   Introduced

   Referred to the Committee on Ways and Means, and in addition to the Committee on Small Business, 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

4. 5 May 2010

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 5 May 2010 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 5 May 2010

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 5 May 2010

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 5 May 2010

  Open at official source

  Leesvertaling

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  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. Boustany, Charles W., Jr. [R-LA-3] · R · Sponsor
• Rep. Pomeroy, Earl [D-ND-At Large] · D · Sponsor
• Rep. Herger, Wally [R-CA-2] · R · Cosponsor
• Rep. Hinchey, Maurice D. [D-NY-22] · D · Cosponsor
• Rep. Guthrie, Brett [R-KY-2] · R · Cosponsor
• Rep. Gerlach, Jim [R-PA-6] · R · Cosponsor
• Rep. Holden, Tim [D-PA-17] · D · Cosponsor
• Rep. Alexander, Rodney [R-LA-5] · R · Cosponsor
• Rep. Platts, Todd Russell [R-PA-19] · R · Cosponsor
• Rep. Melancon, Charlie [D-LA-3] · D · Cosponsor
• Rep. Hare, Phil [D-IL-17] · D · Cosponsor
• Rep. Jones, Walter B., Jr. [R-NC-3] · R · Cosponsor
• Rep. Peterson, Collin C. [D-MN-7] · D · Cosponsor
• Rep. Ryan, Paul [R-WI-1] · R · Cosponsor
• Rep. Ehlers, Vernon J. [R-MI-3] · R · Cosponsor
• · hssm00 · Standing
• · hswm00 · Standing

Related records

• related to ← Employee Stock Ownership Plan Promotion and Improvement Act of 2009