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United States · Bill · S

S. 1589 (115th)

Promotion and Expansion of Private Employee Ownership Act of 2017

referredUnited States· United States Congress· EN

Introduced

19 July 2017

Last action

19 July 2017 · Introduced

Status

Read twice and referred to the Committee on Finance.

Sponsors

Sen. Roberts, Pat [R-KS], Sen. Cardin, Benjamin L. [D-MD], Sen. Whitehouse, Sheldon [D-RI], Sen. Stabenow, Debbie [D-MI], Sen. Blunt, Roy [R-MO], Sen. Gillibrand, Kirsten E. [D-NY], Sen. Collins, Susan M. [R-ME], Sen. Grassley, Chuck [R-IA], Sen. Klobuchar, Amy [D-MN], Sen. Casey, Robert P., Jr. [D-PA], Sen. Franken, Al [D-MN], Sen. Portman, Rob [R-OH], Sen. Crapo, Mike [R-ID], Sen. Thune, John [R-SD], Sen. Tester, Jon [D-MT], Sen. Brown, Sherrod [D-OH], Sen. Risch, James E. [R-ID], Sen. Moran, Jerry [R-KS], Sen. Cantwell, Maria [D-WA], Sen. Isakson, Johnny [R-GA], Sen. Baldwin, Tammy [D-WI], Sen. Peters, Gary C. [D-MI], Sen. McCaskill, Claire [D-MO], Sen. Hoeven, John [R-ND], Sen. Fischer, Deb [R-NE], Sen. King, Angus S., Jr. [I-ME], Sen. Coons, Christopher A. [D-DE], Sen. Donnelly, Joe [D-IN], Sen. Ernst, Joni [R-IA], Sen. Murray, Patty [D-WA], Sen. Reed, Jack [D-RI], Sen. Daines, Steve [R-MT], Sen. Kennedy, John [R-LA], Sen. Tillis, Thomas [R-NC], Sen. Leahy, Patrick J. [D-VT], Sen. Heitkamp, Heidi [D-ND], Sen. Sanders, Bernard [I-VT], Sen. Duckworth, Tammy [D-IL], Sen. Toomey, Patrick [R-PA], Sen. Van Hollen, Chris [D-MD]

Subjects

Taxation

Source updated

11 August 2025

Taxation

Official sourceDownload fileView documentsShare

Summary

Promotion and Expansion of Private Employee Ownership Act of 201 7 This bill amends the Internal Revenue Code to extend to all domestic corporations, including S corporations, provisions allowing deferral of tax on gain from the sale of employer securities to an S corporation-sponsored employee stock ownership plan (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 also amends the Small Business Act to define "ESOP business concern" and allow such a concern to continue to qualify for loans, preferences, and other programs under such Act.

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

Timeline

  1. 19 July 2017

    Introduced

    Read twice and referred to the Committee on Finance.

    Source: IntroReferral

  2. 19 July 2017

    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 · 19 July 2017

    ViewDownloadOpen at official source

  • Introduced in Senate (PDF)

    Introduced in Senate · EN · 19 July 2017

    ViewDownloadOpen at official source

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  • Introduced in Senate

    summary · EN · 19 July 2017

    Open at official source

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Sponsors

Related records

Sources

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