US SB1212 | 2015-2016 | 114th Congress
Status
Spectrum:
Status: Introduced on May 6 2015 - 25% progression, died in committee
Action: 2015-05-06 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on May 6 2015 - 25% progression, died in committee
Action: 2015-05-06 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Promotion and Expansion of Private Employee Ownership Act of 2015 Amends the Internal Revenue Code to 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). 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.
Title
Promotion and Expansion of Private Employee Ownership Act of 2015
Sponsors
Sen. Benjamin Cardin [D-MD] | Sen. Pat Roberts [R-KS] | Sen. Sheldon Whitehouse [D-RI] | Sen. Mike Crapo [R-ID] |
Sen. John Thune [R-SD] | Sen. Al Franken [D-MN] | Sen. Debbie Stabenow [D-MI] | Sen. Heidi Heitkamp [D-ND] |
Sen. Patrick Leahy [D-VT] | Sen. Roy Blunt [R-MO] | Sen. James Risch [R-ID] | Sen. Kelly Ayotte [R-NH] |
Sen. Susan Collins [R-ME] | Sen. Amy Klobuchar [D-MN] | Sen. Tammy Baldwin [D-WI] | Sen. Bernard Sanders [I-VT] |
Sen. Mark Kirk [R-IL] | Sen. Angus King [I-ME] | Sen. Jerry Moran [R-KS] | Sen. John Hoeven [R-ND] |
Sen. John Boozman [R-AR] | Sen. Jack Reed [D-RI] | Sen. Rob Portman [R-OH] | Sen. Gary Peters [D-MI] |
Sen. Maria Cantwell [D-WA] | Sen. Steve Daines [R-MT] | Sen. Johnny Isakson [R-GA] | Sen. Claire McCaskill [D-MO] |
Sen. Kirsten Gillibrand [D-NY] | Sen. Sherrod Brown [D-OH] | Sen. Joni Ernst [R-IA] | Sen. Chuck Grassley [R-IA] |
Sen. Jon Tester [D-MT] | Sen. Pat Toomey [R-PA] | Sen. Robert Casey [D-PA] |
History
Date | Chamber | Action |
---|---|---|
2015-05-06 | Senate | Read twice and referred to the Committee on Finance. |
Same As/Similar To
HB2096 (Related) 2015-11-16 - Referred to the Subcommittee on Health, Employment, Labor, and Pensions.
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.
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.
Subjects
Capital gains tax
Department of the Treasury
Employee benefits and pensions
Executive agency funding and structure
Income tax deferral
Securities
Small business
Taxation
Department of the Treasury
Employee benefits and pensions
Executive agency funding and structure
Income tax deferral
Securities
Small business
Taxation
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/114th-congress/senate-bill/1212/all-info |
Text | https://www.congress.gov/114/bills/s1212/BILLS-114s1212is.pdf |