H.R.647 - Employee Partnership Reward Act of 1995104th Congress (1995-1996)
|Sponsor:||Rep. Wyden, Ron [D-OR-3] (Introduced 01/24/1995)|
|Committees:||House - Economic and Educational; Small Business; Ways and Means|
|Latest Action:||02/10/1995 Referred to the Subcommittee on Employer-Employee Relations. (All Actions)|
This bill has the status Introduced
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Summary: H.R.647 — 104th Congress (1995-1996)All Bill Information (Except Text)
Introduced in House (01/24/1995)
TABLE OF CONTENTS:
Title I: Refundable Income Tax Credit for Nondeferred
Distributions from Performance-Based Reward Plans
Title II: Establishment of Program to Promote Performance-
Based Reward Plans and Employee Decisionmaking
Employee Partnership Reward Act of 1995 - Title I: Refundable Income Tax Credit for Nondeferred Distributions from Performance-Based Reward Plans - Amends the Internal Revenue Code to allow eligible employees a refundable income tax credit for nondeferred distributions from performance-based rewards.
Allows employers an additional deduction for performance-based rewards.
Directs the Secretary of the Treasury to study and report to the Congress on the effect of such credit in stimulating productivity and full employment.
Directs the Secretary of Labor and the Director of the Federal Mediation and Conciliation Service each to: (1) collect statistics on the extent of performance-based reward plans in the United States; and (2) prepare studies describing the nature and terms of these plans.
Requires the Director of the Office of Management and Budget to publish annual estimates of annual tax expenditures for deferred profit-sharing plans and employee stock ownership plans.
Title II: Establishment of Program to Promote Performance-Based Reward Plans and Employee Decisionmaking Participation Programs - Directs the Administrator of the Small Business Administration to establish and carry out an Employee Partnership Pilot Program.
Directs the Administrator to make five-year program grants to up to five eligible entities to promote implementation of performance-based reward plans and employee decisionmaking participation programs. Requires a matching non-Federal share.
Requires the Administrator to report to the Congress on an evaluation of such grant program, together with recommendations.