Employee Stock Ownership Plan Expansion Act

Summary

Employee Stock Ownership Plan Expansion Act - Amends the Internal Revenue Code to repeal the voting rights pass through requirement as it applies to employee stock ownership plans of closely-held corporations. Allows the acquisition of nonvoting common stock by employee stock ownership plans if the employer has a class of nonvoting common stock outstanding and the specific shares acquired have been issued and outstanding for at least 24 months.

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Timeline

1. 10 March 1983

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 10 March 1983

   Introduced

   Introduced in Senate

   Source: IntroReferral

3. 16 March 1983

   Committee

   Committee on Finance requested executive comment from OMB, Treasury Department.

   Source: Committee

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in Senate

  summary · EN · 10 March 1983

  Open at official source

Sponsors

• Sen. Dixon, Alan J. [D-IL] · D · Sponsor
• Sen. Stevens, Ted [R-AK] · R · Sponsor
• Sen. Long, Russell B. [D-LA] · D · Sponsor
• · ssfi00 · Standing

Related records

• related to → Employee Stock Ownership Plan Expansion Act