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United States · Bill · S

S. 1300 (117th)

Promotion and Expansion of Private Employee Ownership Act of 2021

referredUnited States· United States Congress· EN

Introduced

22 April 2021

Last action

22 April 2021 · Introduced

Status

Read twice and referred to the Committee on Finance.

Sponsors

Sen. Cardin, Benjamin L. [D-MD], Sen. Portman, Rob [R-OH], Sen. Stabenow, Debbie [D-MI], Sen. Crapo, Mike [R-ID], Sen. Cantwell, Maria [D-WA], Sen. Daines, Steve [R-MT], Sen. Brown, Sherrod [D-OH], Sen. Collins, Susan M. [R-ME], Sen. Casey, Robert P., Jr. [D-PA], Sen. Risch, James E. [R-ID], Sen. Whitehouse, Sheldon [D-RI], Sen. Blunt, Roy [R-MO], Sen. Hassan, Margaret Wood [D-NH], Sen. Boozman, John [R-AR], Sen. Leahy, Patrick J. [D-VT], Sen. Fischer, Deb [R-NE], Sen. Murray, Patty [D-WA], Sen. Ernst, Joni [R-IA], Sen. Sanders, Bernard [I-VT], Sen. Klobuchar, Amy [D-MN], Sen. Tester, Jon [D-MT], Sen. Shaheen, Jeanne [D-NH], Sen. King, Angus S., Jr. [I-ME], Sen. Booker, Cory A. [D-NJ], Sen. Peters, Gary C. [D-MI], Sen. Van Hollen, Chris [D-MD], Sen. Duckworth, Tammy [D-IL], Sen. Reed, Jack [D-RI], Sen. Kennedy, John [R-LA], Sen. Moran, Jerry [R-KS], Sen. Grassley, Chuck [R-IA], Sen. Hoeven, John [R-ND], Sen. Toomey, Patrick [R-PA], Sen. Baldwin, Tammy [D-WI], Sen. Thune, John [R-SD], Sen. Smith, Tina [D-MN], Sen. Barrasso, John [R-WY], Sen. Young, Todd [R-IN], Sen. Blackburn, Marsha [R-TN]

Subjects

Taxation

Source updated

7 April 2025

Taxation

Official sourceDownload fileView documentsShare

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 extends to all domestic corporations, including S corporations, provisions allowing deferral of tax on gain from the sale of employer securities to an ESOP. 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 and allows such a concern to continue to qualify as a small business for the purposes of programs under the Small Business Act. An ESOP business concern is a business concern that was a small business concern eligible for a loan, preference, or other program under the Small Business 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. 22 April 2021

    Introduced

    Read twice and referred to the Committee on Finance.

    Source: IntroReferral

  2. 22 April 2021

    Introduced

    Introduced in Senate

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in Senate (text)

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  • Introduced in Senate (text)

    Introduced in Senate · EN · 22 April 2021

    ViewDownloadOpen at official source

  • Introduced in Senate (PDF)

    Introduced in Senate · EN · 22 April 2021

    ViewDownloadOpen at official source

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  • Introduced in Senate

    summary · EN · 22 April 2021

    Open at official source

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Sponsors

Related records

Sources

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