US Congress House Bill 2096 (Prior Session Legislation)

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Spectrum: Slight Partisan Bill (Republican 60-35-1)
Status: Introduced on April 29 2015 - 25% progression, died in committee
Action: 2015-11-16 - 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]

Promotion and Expansion of Private Employee Ownership Act of 2015 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); 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. Directs the Department of the Treasury to establish the S Corporation Employee Ownership Assistance Office to foster increased employee ownership of S corporations. 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.

Promotion and Expansion of Private Employee Ownership Act of 2015

Rep. David Reichert [R-WA]	Rep. Ron Kind [D-WI]	Rep. Patrick Tiberi [R-OH]	Rep. Richard Neal [D-MA]
Rep. Erik Paulsen [R-MN]	Rep. Earl Blumenauer [D-OR]	Rep. Charles Boustany [R-LA]	Rep. Bill Pascrell [D-NJ]
Rep. Robert Dold [R-IL]	Rep. Brad Ashford [D-NE]	Rep. Gwen Moore [D-WI]	Rep. Jason Smith [R-MO]
Rep. Kenny Marchant [R-TX]	Rep. John Conyers [D-MI]	Rep. Rodney Davis [R-IL]	Rep. Bob Goodlatte [R-VA]
Sen. Kevin Cramer [R-ND]	Rep. Kevin Yoder [R-KS]	Rep. Ralph Abraham [R-LA]	Rep. Peter Roskam [R-IL]
Rep. Kristi Noem [R-SD]	Rep. Glenn Grothman [R-WI]	Rep. Rod Blum [R-IA]	Rep. Timothy Walz [D-MN]
Rep. Lynn Jenkins [R-KS]	Rep. Michael Simpson [R-ID]	Rep. Randy Hultgren [R-IL]	Rep. Patrick Meehan [R-PA]
Rep. Cathy McMorris Rodgers [R-WA]	Rep. James Renacci [R-OH]	Rep. Bill Huizenga [R-MI]	Rep. Glenn Thompson [R-PA]
Rep. Collin Peterson [D-MN]	Rep. Ryan Costello [R-PA]	Rep. Reid Ribble [R-WI]	Rep. Robert Hurt [R-VA]
Rep. Sam Farr [D-CA]	Rep. Tom Emmer [R-MN]	Rep. Mike Coffman [R-CO]	Rep. Michael Fitzpatrick [R-PA]
Rep. Keith Ellison [D-MN]	Rep. Robert Pittenger [R-NC]	Rep. Tom Reed [R-NY]	Rep. David Young [R-IA]
Rep. Pete Sessions [R-TX]	Rep. Julia Brownley [D-CA]	Rep. Robert Brady [D-PA]	Rep. Richard Hanna [R-NY]
Sen. Peter Welch [D-VT]	Rep. Louise Slaughter [D-NY]	Rep. Rick Larsen [D-WA]	Rep. Mark Takai [D-HI]
Rep. Bradley Byrne [R-AL]	Rep. Ryan Zinke [R-MT]	Rep. Linda Sanchez [D-CA]	Rep. Mike Kelly [R-PA]
Rep. David Loebsack [D-IA]	Rep. Mike Thompson [D-CA]	Rep. Michael Conaway [R-TX]	Rep. Joyce Beatty [D-OH]
Rep. Todd Rokita [R-IN]	Rep. Diane Black [R-TN]	Rep. Robert Aderholt [R-AL]	Rep. Suzanne Bonamici [D-OR]
Rep. Richard Nolan [D-MN]	Rep. Tom Marino [R-PA]	Rep. Luke Messer [R-IN]	Rep. Steve Chabot [R-OH]
Rep. Janice Hahn [D-CA]	Rep. Ann Kuster [D-NH]	Rep. Luis Gutierrez [D-IL]	Rep. Steve King [R-IA]
Rep. Kay Granger [R-TX]	Rep. Ruben Hinojosa [D-TX]	Rep. Adam Kinzinger [R-IL]	Rep. Stephen Knight [R-CA]
Rep. Chellie Pingree [D-ME]	Rep. Robin Kelly [D-IL]	Rep. Danny Davis [D-IL]	Rep. Janice Schakowsky [D-IL]
Rep. Lamar Smith [R-TX]	Rep. Edward Royce [R-CA]	Rep. Mark Pocan [D-WI]	Rep. Ken Calvert [R-CA]
Sen. Kyrsten Sinema [I-AZ]	Rep. Adam Schiff [D-CA]	Rep. David Joyce [R-OH]	Rep. Mark Amodei [R-NV]
Rep. John Katko [R-NY]	Rep. Joseph Heck [R-NV]	Rep. Vicky Hartzler [R-MO]	Rep. Ann Wagner [R-MO]
Rep. Roger Williams [R-TX]	Rep. David Scott [D-GA]	Rep. Blake Farenthold [R-TX]	Rep. Jared Polis [D-CO]

Date	Chamber	Action
2015-11-16	House	Referred to the Subcommittee on Health, Employment, Labor, and Pensions.
2015-04-29	House	Referred to House Small Business
2015-04-29	House	Referred to House Education and the Workforce
2015-04-29	House	Referred to House Ways and Means
2015-04-29	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.
2015-04-29	House	Introduced in House

SB1212 (Related) 2015-05-06 - Read twice and referred to the Committee on Finance.
SR252 (Related) 2016-12-20 - By Senator Vitter from Committee on Small Business and Entrepreneurship filed written report under authority of the order of the Senate of 12/10/2016. Report No. 114-424.

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/house-bill/2096/all-info
Text	https://www.congress.gov/114/bills/hr2096/BILLS-114hr2096ih.pdf