S. 1212 · 114th Congress
Promotion and Expansion of Private Employee Ownership Act of 2015
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Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
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CardinSponsor34 cosponsors · 15 D, 17 R, 2 I
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Ayotte
RB
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Blunt
MC
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Crapo
SC
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Collins
AF
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Franken
HH
D
Heitkamp
AK
D
Klobuchar
PL
D
Leahy
PR
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Roberts
JR
R
Risch
DS
D
Stabenow
JT
R
Thune
SW
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Whitehouse
TB
D
Baldwin
BS
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Sanders
MK
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Kirk
AK
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King
JM
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Moran
JH
R
Hoeven
JB
R
Boozman
JR
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Reed
RP
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Portman
GP
D
Peters
MC
D
Cantwell
SD
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Daines
JI
R
Isakson
CM
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McCaskill
KG
D
Gillibrand
SB
D
Brown
JE
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Ernst
CG
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Grassley
PT
R
Toomey
JT
D
Tester
BC
D
Casey13 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 2015
What it does: CRS summary · Introduced in Senate · May 6, 2015
Promotion and Expansion of Private Employee Ownership Act of 2015
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 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.
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 2015
Latest action (May 6, 2015): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: May 6, 2015
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.