US Congress House Bill 3586 (Prior Session Legislation)

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November 16 2009 - Referred to the Subcommittee on Health, Employment, Labor, and Pensions.
Pending: House Subcommittee on Health, Employment, Labor, and Pensions Committee
Text: Latest bill text (Introduced) [PDF]

S Corporation ESOP Promotion and Expansion Act of 2009 - Amends the Internal Revenue Code to: (1) extend to all domestic corporations, including S corporations, provisions allowing deferral of tax on gain from the sale of employer securities to an S corporation-sponsored employer stock ownership plan (ESOP); (2) allow a tax deduction for interest incurred on loans to S corporation-sponsored ESOPs for the purchase of employer securities; (3) transfer liability for payment of estate tax on transfers of employer securities to an S corporation-sponsored ESOP from the estate executor to the ESOP; and (4) allow an estate tax deduction for 50% of the proceeds from the sale of employer securities to an S corporation-sponsored ESOP. Directs the Secretary of Labor to establish the S Corporation Employee Ownership Assistance Office to foster increased employee ownership of S corporations.

S Corporation ESOP Promotion and Expansion Act of 2009

Rep Frank, Barney	Rep Wu, David	Rep Peterson, Collin C.	Rep Platts, Todd Russell
Rep Reichert, David G.	Rep Sessions, Pete	Rep Graves, Sam	Rep Guthrie, Brett
Rep Moran, Jerry	Rep Paulsen, Erik	Rep Terry, Lee	Rep Tiberi, Patrick J.
Rep Roskam, Peter J.	Rep Akin, W. Todd	Rep Goodlatte, Bob	Rep Schmidt, Jean
Rep Walz, Timothy J.	Rep Schwartz, Allyson Y.	Rep Oberstar, James L.	Rep Green, Gene
Rep Kagen, Steve	Rep Pascrell, Bill, Jr.	Rep Blumenauer, Earl	Rep Boswell, Leonard L.
Rep Cleaver, Emanuel	Rep Courtney, Joe	Rep Davis, Danny K.	Rep Driehaus, Steve
Rep Gonzalez, Charles A.	Rep Kind, Ron	Rep Moore, Gwen	Rep Peters, Gary C.
Rep Polis, Jared	Rep Delahunt, Bill

Date	Chamber	Action
2009-11-16		Referred to the Subcommittee on Health, Employment, Labor, and Pensions.
2009-09-16		Referred to House Education and Labor
2009-09-16		Referred to House Ways and Means
2009-09-16		Referred to the Committee on Ways and Means, and in addition to the Committee on Education and Labor, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

SB3803 (Related) 2010-09-20 - Read twice and referred to the Committee on Finance.

Type	Source
Summary	http://thomas.loc.gov/cgi-bin/bdquery/z?d111:HN03586:@@@L&summ2=m&
Text	http://gpo.gov/fdsys/pkg/BILLS-111hr3586ih/pdf/BILLS-111hr3586ih.pdf