Summary: H.R.5170 — 100th Congress (1987-1988)All Information (Except Text)

There is one summary for H.R.5170. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (08/04/1988)

Amends the Internal Revenue Code to treat as a tax preference for minimum tax purposes any exempt-interest dividend on a loan to a corporation or employee stock ownership plan (ESOP) that is used to acquire employer securities.

Requires any pension plan with respect to which there are substantial ESOP holdings in the employer (at least 35 percent of the employer's stock is held by one or more ESOPs) to provide for a passthrough of voting rights to plan participants and beneficiaries.