3.0.0 4796 2023-01-14T22:48:15Z 2023-01-14T22:48:15Z House H HR 2004-07-09 108 hswm00 Ways and Means Committee House Standing Referred to 2004-07-09T13:00:15Z 108 2298 S 2004-04-07 Read twice and referred to the Committee on Finance. Identical bill CRS 2004-07-09 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2004-07-09 Sponsor introductory remarks on measure. (CR E1343-1344) IntroReferral B00100 9 Library of Congress 2004-07-09 Introduced in House IntroReferral Intro-H 9 Library of Congress 2004-07-09 Introduced in House IntroReferral 1000 9 Library of Congress B000104 Rep. Ballenger, Cass [R-NC-10] CASS BALLENGER R NC 10 N J000163 Rep. Johnson, Nancy L. [R-CT-5] NANCY JOHNSON R CT L. 5 2004-07-09 True C001046 Rep. Cantor, Eric [R-VA-7] ERIC CANTOR R VA 7 2004-07-09 True R000409 Rep. Rohrabacher, Dana [R-CA-46] DANA ROHRABACHER R CA 46 2004-07-09 True G000280 Rep. Goode, Virgil H., Jr. [R-VA-5] VIRGIL GOODE R VA H. 5 2004-07-09 True P000583 Rep. Paul, Ron [R-TX-14] RON PAUL R TX 14 2004-07-09 True P000585 Rep. Platts, Todd Russell [R-PA-19] TODD PLATTS R PA RUSSELL 19 2004-07-09 True D000597 Rep. Davis, Jo Ann [R-VA-1] JO ANN DAVIS R VA 1 2004-09-23 False M001138 Rep. Manzullo, Donald A. [R-IL-16] DONALD MANZULLO R IL 16 2004-09-23 False Taxation College costs Commerce Corporation taxes Dividends Education Employee ownership Finance and Financial Sector Higher education Home ownership Housing and Community Development Housing finance Income tax Labor and Employment Minimum tax Mutual funds Small business Stockholders Tax credits Tax deductions Tax deferral Tax penalties Tax refunds Tax-deferred compensation plans Taxation

00 2004-07-09 Introduced in House 2004-09-13T13:24:54Z Employee Stock Ownership Plan Promotion and Improvement Act of 2004 - Amends the Internal Revenue Code to: (1) treat certain distributions by S corporations to an employee stock ownership plan (ESOP) as deductible dividends; (2) exempt deductions for ESOP dividends from corporate alternative minimum tax adjustments based on adjusted earnings and profits; (3) allow deferral of the recognition of gain for certain sales to ESOP's sponsored by any domestic corporation, including S corporations; (4) allow reinvestment of ESOP stock proceeds eligible for nonrecognition of gain in certain mutual funds; (5) modify certain ESOP stock ownership rules; and (6) allow early distributions from an ESOP for higher education expenses and first-time homebuyer purchases without penalty.

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Display Title Official Title as Introduced Introduced in House IH Short Titles as Introduced Introduced in House 2004-07-09T04:00:00Z 2004-07-09 Referred to the House Committee on Ways and Means. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.