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H.R. 2092 · 115th Congress

Promotion and Expansion of Private Employee Ownership Act of 2017

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Never voted on. It didn't reach a floor vote before the 115th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

DRR ReichertSponsor
85 cosponsors · 34 D, 51 R
EBD Blumenauer RKD Kind RND Neal BPD Pascrell EPR Paulsen PTR Tiberi LJR Jenkins GMD Moore RMR Marshall CPD Pingree KCR Cramer SKR King DLD Loebsack PWD Welch DYR Young JPD Polis JSD Schakowsky LBR Barletta SBD Bonamici KNR Noem BGR Goodlatte BHD Higgins AKR Kinzinger JWR Walorski BFR Fitzpatrick DKD Kilmer TMR Marino MTD Thompson GTR Thompson KYR Yoder JGD Gottheimer FSR Sensenbrenner DBR Bacon KCR Calvert TWD Walz SDR DesJarlais RGD Gallego LSR Smith SCR Chabot CMR McMorris Rodgers LMR Messer SKR Knight TER Emmer JBD Brownley LSD Slaughter JCD Correa PSR Sessions JSR Smith RND Nolan JRR Renacci PMR Meehan MMR Mullin BLR Long DBR Brat JBR Banks LSR Smucker CBD Bustos DTD Titus MBR Brooks MPD Pocan JRR Ratcliffe RKD Kelly FVD Vela BPR Poliquin AKD Kuster ASD Schiff JFR Faso MCD Capuano KMR Marchant PRR Roskam TRR Reed AWR Wagner GHR Holding RLD Larsen BWR Wenstrup RHR Hultgren DJR Joyce JCR Comer RNR Norman RAR Aderholt VHR Hartzler DDD Davis PTD Tonko PAD Aguilar JKD Kennedy

6 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 201 7

What it does: CRS summary · Introduced in House · Apr 12, 2017

Promotion and Expansion of Private Employee Ownership Act of 2017

This bill expands tax incentives and federal assistance for employee stock ownership plans (ESOPs) that are sponsored by S corporations.

The bill provides additional tax incentives for ESOPs by (1) extending to all domestic corporations, including S corporations, provisions allowing deferral of tax on gain from the sale of employer securities to an ESOP; and (2) allowing a tax deduction for 50% of the interest received by a bank on loans to S corporation-sponsored ESOPs for the purchase of employer securities.

The Department of the Treasury must establish the S Corporation Employee Ownership Assistance Office to foster increased employee ownership of S corporations.

The bill defines an "ESOP business concern" and allows such a concern to continue to qualify as a small business for the purposes of programs under the Small Business Act. An "ESOP business concern" is a business concern that was a small business concern eligible for a loan, preference, or other program under the Small Business Act before more than 49% of the business concern was acquired by an ESOP.

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 2017

Latest action (Apr 12, 2017): 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.

Policy area: Taxation · Origin: House · Introduced: Apr 12, 2017

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.