US Congress House Bill 1792 (Prior Session Legislation)

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Spectrum: Bipartisan Bill
Status: Introduced on March 29 2017 - 25% progression, died in committee
Action: 2017-03-29 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Expanding Employee Ownership Act of 2017 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.

Expanding Employee Ownership Act of 2017

Rep. Dana Rohrabacher [R-CA]

Rep. Collin Peterson [D-MN]

Date	Chamber	Action
2017-03-29	House	Referred to the House Committee on Ways and Means.
2017-03-29	House	Introduced in House

Type	Source
Summary	https://www.congress.gov/bill/115th-congress/house-bill/1792/all-info
Text	https://www.congress.gov/115/bills/hr1792/BILLS-115hr1792ih.pdf