H.R. 4837 · 113th Congress
Promotion and Expansion of Private Employee Ownership Act of 2014
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Never voted on. It didn't reach a floor vote before the 113th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
ReichertSponsor37 cosponsors · 20 D, 17 R
D
Blumenauer
CB
R
Boustany
RK
D
Kind
RN
D
Neal
BP
D
Pascrell
EP
R
Paulsen
PT
R
Tiberi
MF
R
Fitzpatrick
CR
D
Ruppersberger
SB
D
Bonamici
GM
D
Moore
LJ
R
Jenkins
GP
D
Peters
PR
R
Roskam
MT
D
Thompson
JC
D
Courtney
TR
R
Reed
GC
D
Connolly
AS
R
Schock
BG
R
Goodlatte
RH
D
Holt
AK
D
Kuster
CP
D
Peterson
GT
R
Thompson
JL
D
Lewis
EC
D
Cleaver
DL
D
Loebsack
JS
D
Schakowsky
DB
R
Black
CM
R
McMorris Rodgers
TM
R
Marino
GN
D
Negrete McLeod
KC
R
Cramer
DD
D
Davis
FS
R
Sensenbrenner
JS
R
Smith
KY
R
Yoder7 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Promotion and Expansion of Private Employee Ownership Act of 2014 - 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); and (2) allow a tax deduction for 50%…
What it does: CRS summary · Introduced in House · Jun 11, 2014
Promotion and Expansion of Private Employee Ownership Act of 2014 - 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); 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 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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Promotion and Expansion of Private Employee Ownership Act of 2014
Latest action (Nov 17, 2014): Referred to the Subcommittee on Health, Employment, Labor, and Pensions.
Policy area: Taxation · Origin: House · Introduced: Jun 11, 2014
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.