S. 2515 · 118th Congress
Promotion and Expansion of Private Employee Ownership Act of 2023
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Never voted on. It didn't reach a floor vote before the 118th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
CardinSponsor40 cosponsors · 19 D, 19 R, 2 I
D
Brown
MB
R
Blackburn
JB
R
Barrasso
CB
D
Booker
MC
R
Crapo
SC
R
Collins
BC
R
Cassidy
SD
R
Daines
CG
R
Grassley
AK
D
Klobuchar
AK
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King
JM
R
Moran
JR
D
Reed
JR
R
Risch
BS
I
Sanders
DS
D
Stabenow
TS
D
Smith
JT
D
Tester
CV
D
Van Hollen
PW
D
Welch
TY
R
Young
MC
D
Cantwell
JT
R
Thune
TT
R
Tillis
SW
D
Whitehouse
MB
R
Braun
JS
D
Shaheen
BC
D
Casey
GP
D
Peters
RS
R
Scott
JF
D
Fetterman
ES
R
Schmitt
JB
R
Boozman
CC
D
Coons
MH
D
Hirono
PR
R
Ricketts
MH
D
Hassan
JK
R
Kennedy
TB
D
Baldwin
DF
R
Fischer21 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 2023
What it does: CRS summary · Introduced in Senate · Jul 26, 2023
Promotion and Expansion of Private Employee Ownership Act of 2023
This bill accelerates to the enactment date of this bill the deferral of tax (currently, after December 31, 2027) on sales of employer stock to employee stock ownership plans (ESOPs) sponsored by S corporations. It also eliminates the limitation on the amount that may be deferred.
The Department of the Treasury must establish the S Corporation Employee Ownership Assistance Office to foster increased employee ownership of S corporations. The office must provide education and outreach about the benefits of employee ownership of S corporations and technical assistance to assist S corporations in sponsoring ESOPs.
The bill directs the Department of Labor to appoint an Advocate for Employee Ownership.
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 2023
Latest action (Jul 26, 2023): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Jul 26, 2023
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.