H.R.786 - To amend the Internal Revenue Code of 1986 to exclude from gross income compensation received by employees consisting of qualified distributions of employer stock.112th Congress (2011-2012)
|Sponsor:||Rep. Rohrabacher, Dana [R-CA-46] (Introduced 02/17/2011)|
|Committees:||House - Ways and Means|
|Latest Action:||House - 02/17/2011 Referred to the House Committee on Ways and Means. (All Actions)|
This bill has the status Introduced
Here are the steps for Status of Legislation:
Summary: H.R.786 — 112th Congress (2011-2012)All Information (Except Text)
Introduced in House (02/17/2011)
Amends the Internal Revenue Code to exclude from the gross income of an employee: (1) shares of employer securities received in a qualified employee stock distribution as compensation for services that do not exceed the lowest number of employer securities received by any employee in such distribution; (2) any gain on such securities if held by an employee for not less than 10 years; and (3) in the case of any qualified disposition of an employer security that meets such 10-year holding requirement, any gain on so much stock acquired during the 60-day period beginning on the date of such disposition as does not exceed the fair market value of the employer security so disposed.
Allows employers a tax deduction for the fair market value of securities transferred in a stock distribution. Requires an employee to recapture in gross income the amount of employer securities excluded from gross income if such securities are disposed of within five years after receipt.