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Titles (2)

Short Titles

Short Titles - Senate

Short Titles as Introduced

Promotion and Expansion of Private Employee Ownership Act of 2019

Official Titles

Official Titles - Senate

Official Titles as Introduced

A bill to amend the Internal Revenue Code of 1986 and the Small Business Act to expand the availability of employee stock ownership plans in S corporations, and for other purposes.


Actions Overview (1)

Date
01/17/2019Introduced in Senate

All Actions (1)

Date
01/17/2019Read twice and referred to the Committee on Finance.
Action By: Senate

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 Reports
Senate Finance01/17/2019 Referred to

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Subjects (8)


Latest Summary (1)

There is one summary for S.177. View summaries

Shown Here:
Introduced in Senate (01/17/2019)

Promotion and Expansion of Private Employee Ownership Act of 2019

This bill expands tax incentives and federal assistance for employee stock ownership plans (ESOPs) that are sponsored by S corporations.

The bill extends to all domestic corporations, including S corporations, provisions allowing deferral of tax on gain from the sale of employer securities to an ESOP.

The Department of the Treasury must establish the S Corporation Employee Ownership Assistance Office to foster increased employee ownership of S corporations.

The bill defines an "ESOP business concern" and allows such a concern to continue to qualify as a small business for the purposes of programs under the Small Business Act. An "ESOP business concern" is a business concern that was a small business concern eligible for a loan, preference, or other program under the Small Business Act before more than 49% of the business concern was acquired by an ESOP.