S. 742
Promotion and Expansion of Private Employee Ownership Act of 2013
Read twice and referred to the Committee on Finance.
Sponsor
Sen. Cardin, Benjamin L. [D-MD]
Bill Details
- Update Date
- Nov 15, 2022
- Origin Chamber
- Senate
- Bill Type
- S
- Bill Number
- 742
- Congress
- 113
- Introduced Date
- Apr 16, 2013
- Policy Area
- Taxation
- Is Law
- No
Read twice and referred to the Committee on Finance.
Source: Senate
Introduced in Senate
Source: Library of Congress
Promotion and Expansion of Private Employee Ownership Act of 2013 - 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 employee 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.
Finance Committee
Introduced in Senate
Apr 16, 2013