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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (2)

Short Titles

Short Titles - House of Representatives

Short Titles as Introduced

Expanding Employee Ownership Act of 2016

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To amend the Internal Revenue Code of 1986 to exclude from gross income compensation received by employees consisting of qualified distributions of employer stock.

Actions Overview (1)

Date Actions Overview
02/12/2016Introduced in House

All Actions (3)

Date All Actions
02/12/2016Referred to the House Committee on Ways and Means.
Action By: House of Representatives
02/12/2016Sponsor introductory remarks on measure. (CR E178)
Action By: House of Representatives
02/12/2016Introduced in House
Action By: House of Representatives

Cosponsors (3)

* = Original cosponsor
CosponsorDate Cosponsored
Rep. Peterson, Collin C. [D-MN-7]* 02/12/2016
Rep. Jones, Walter B., Jr. [R-NC-3] 03/23/2016
Rep. Polis, Jared [D-CO-2] 03/23/2016

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Related Documents
House Ways and Means02/12/2016 Referred to

No related bill information was received for H.R.4577.

Subjects (7)

Latest Summary (1)

There is one summary for H.R.4577. View summaries

Shown Here:
Introduced in House (02/12/2016)

Expanding Employee Ownership Act of 2016

This bill 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.

Employers may claim a tax deduction for the fair market value of securities transferred in a stock distribution. Employees must recapture in gross income the amount of employer securities excluded from gross income if such securities are disposed of within five years after receipt.