US SB1512 | 2011-2012 | 112th Congress
Status
Spectrum: Bipartisan Bill
Status: Introduced on September 6 2011 - 25% progression, died in committee
Action: 2011-09-06 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on September 6 2011 - 25% progression, died in committee
Action: 2011-09-06 - 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 2011 - 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 Secretary 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 2011
Sponsors
Sen. Benjamin Cardin [D-MD] | Sen. Roy Blunt [R-MO] | Sen. Scott Brown [R-MA] | Sen. Maria Cantwell [D-WA] |
Sen. Susan Collins [R-ME] | Sen. Kent Conrad [D-ND] | Sen. John Hoeven [R-ND] | Sen. Tim Johnson [D-SD] |
Sen. Amy Klobuchar [D-MN] | Sen. Herb Kohl [D-WI] | Sen. Mary Landrieu [D-LA] | Sen. Patrick Leahy [D-VT] |
Sen. Joseph Lieberman [I-CT] | Sen. Jerry Moran [R-KS] | Sen. Pat Roberts [R-KS] | Sen. Bernard Sanders [I-VT] |
Sen. Olympia Snowe [R-ME] | Sen. Debbie Stabenow [D-MI] | Sen. Jon Tester [D-MT] | Sen. John Thune [R-SD] |
Sen. Sheldon Whitehouse [D-RI] |
History
Date | Chamber | Action |
---|---|---|
2011-09-06 | Senate | Read twice and referred to the Committee on Finance. |
Same As/Similar To
HB1244 (Related) 2011-04-15 - Referred to the Subcommittee on Health, Employment, Labor, and Pensions.
Subjects
Capital gains tax
Department of the Treasury
Employee benefits and pensions
Executive agency funding and structure
Securities
Small business
Taxation
Department of the Treasury
Employee benefits and pensions
Executive agency funding and structure
Securities
Small business
Taxation
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/112th-congress/senate-bill/1512/all-info |
Text | https://www.congress.gov/112/bills/s1512/BILLS-112s1512is.pdf |