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.

R RobertsSponsor

39 cosponsors · 21 D, 16 R, 2 I

21 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 Senate · Jul 19, 2017

Promotion and Expansion of Private Employee Ownership Act of 2017

This bill 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).

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

The bill also 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 2017

Latest action (Jul 19, 2017): Read twice and referred to the Committee on Finance.

Policy area: Taxation · Origin: Senate · Introduced: Jul 19, 2017

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

No recorded floor vote found.