US HB2092 | 2017-2018 | 115th Congress
Status
Spectrum: Slight Partisan Bill (Republican 52-34)
Status: Introduced on April 12 2017 - 25% progression, died in committee
Action: 2017-04-12 - Referred to the Committee on Ways and Means, and in addition to the Committees on Education and the Workforce, and Small Business, 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.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on April 12 2017 - 25% progression, died in committee
Action: 2017-04-12 - Referred to the Committee on Ways and Means, and in addition to the Committees on Education and the Workforce, and Small Business, 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.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Promotion and Expansion of Private Employee Ownership Act of 2017 This bill 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 employee stock ownership plan (ESOP); and (2) allow a tax deduction for 50% of the interest incurred on loans to S corporation-sponsored ESOPs for the purchase of employer securities. The Department of the Treasury must establish the S Corporation Employee Ownership Assistance Office to foster increased employee ownership of S corporations. This bill also amends the Small Business Act to define "ESOP business concern" and allow such a concern to continue to qualify for loans, preferences, and other programs under such Act.
Title
Promotion and Expansion of Private Employee Ownership Act of 2017
Sponsors
History
| Date | Chamber | Action |
|---|---|---|
| 2017-04-12 | House | Referred to the Committee on Ways and Means, and in addition to the Committees on Education and the Workforce, and Small Business, 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. |
| 2017-04-12 | House | Referred to the Committee on Ways and Means, and in addition to the Committees on Education and the Workforce, and Small Business, 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. |
| 2017-04-12 | House | Referred to the Committee on Ways and Means, and in addition to the Committees on Education and the Workforce, and Small Business, 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. |
| 2017-04-12 | House | Referred to the Committee on Ways and Means, and in addition to the Committees on Education and the Workforce, and Small Business, 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. |
| 2017-04-12 | House | Introduced in House |
Same As/Similar To
SB1589 (Related) 2017-07-19 - Read twice and referred to the Committee on Finance.
Subjects
Capital gains tax
Department of the Treasury
Employee benefits and pensions
Executive agency funding and structure
Income tax deductions
Income tax deferral
Interest, dividends, interest rates
Securities
Small business
Taxation
Department of the Treasury
Employee benefits and pensions
Executive agency funding and structure
Income tax deductions
Income tax deferral
Interest, dividends, interest rates
Securities
Small business
Taxation
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/115th-congress/house-bill/2092/all-info |
| Text | https://www.congress.gov/115/bills/hr2092/BILLS-115hr2092ih.pdf |
