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. 7 April 2004

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 7 April 2004

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 7 April 2004 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 7 April 2004

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 7 April 2004

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 7 April 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

• Sen. Breaux, John B. [D-LA] · D · Sponsor
• Sen. Landrieu, Mary L. [D-LA] · D · Cosponsor
• Sen. Allen, George [R-VA] · R · Cosponsor
• Sen. Lincoln, Blanche L. [D-AR] · D · Cosponsor
• Sen. Daschle, Thomas A. [D-SD] · D · Cosponsor
• Sen. Hatch, Orrin G. [R-UT] · R · Cosponsor
• · ssfi00 · Standing

Related records

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