Promotion and Expansion of Private Employee Ownership Act of 2015
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Apr 29, 2015)
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 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.
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.
What just happenedNov 16, 2015
Referred to the Subcommittee on Health, Employment, Labor, and Pensions.
Who’s behind it
- Introduced in HouseApr 29, 2015
- Nov 16, 2015Committee
Referred to the Subcommittee on Health, Employment, Labor, and Pensions.
Health, Employment, Labor, and Pensions Subcommittee - Apr 29, 2015IntroReferralH11100
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.
Small Business Committee - Apr 29, 2015IntroReferralH11100
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.
Education and the Workforce Committee - Apr 29, 2015IntroReferralH11100-A
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.
- Apr 29, 2015IntroReferralH11100
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.
Ways and Means Committee - Apr 29, 2015IntroReferralIntro-H
Introduced in House
- Apr 29, 2015IntroReferral1000
Introduced in House