S. 3803 · 111th Congress
S Corporation ESOP Promotion and Expansion Act of 2010
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Never voted on. It didn't reach a floor vote before the 111th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
RobertsSponsor · by request1 cosponsor · 1 D
1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
S Corporation ESOP Promotion and Expansion Act of 2010 - 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); (2) allow a tax deduction for interest incurred…
What it does: CRS summary · Introduced in Senate · Sep 20, 2010
S Corporation ESOP Promotion and Expansion Act of 2010 - 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); (2) allow a tax deduction for interest incurred on loans to S corporation-sponsored ESOPs for the purchase of employer securities; and (3) transfer liability for payment of estate tax on transfers of employer securities to an S corporation-sponsored ESOP from the estate executor to the ESOP.
Directs the Secretary of the Treasury to establish the S Corporation Employee Ownership Assistance Office to foster increased employee ownership of S corporations.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: S Corporation ESOP Promotion and Expansion Act of 2010
Latest action (Sep 20, 2010): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Sep 20, 2010
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.