3.0.0 3111 2023-01-13T04:47:51Z 2023-01-13T04:47:51Z House H HR 2005-06-29 109 hswm00 Ways and Means Committee House Standing hswm04 Trade Subcommittee Referred to 2005-07-01T19:43:24Z Referred to 2005-06-29T14:02:10Z 109 1319 S 2005-06-28 Read twice and referred to the Committee on Finance. Identical bill CRS 2005-07-01 hswm04 Trade Subcommittee 1 House committee actions Referred to the Subcommittee on Trade. Committee 2005-06-29 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2005-06-29 Introduced in House IntroReferral Intro-H 9 Library of Congress 2005-06-29 Introduced in House IntroReferral 1000 9 Library of Congress J000163 Rep. Johnson, Nancy L. [R-CT-5] NANCY JOHNSON R CT L. 5 N J000070 Rep. Jefferson, William J. [D-LA-2] WILLIAM JEFFERSON D LA J. 2 2005-06-29 True M000388 Rep. McCrery, Jim [R-LA-4] JIM MCCRERY R LA 4 2005-06-29 True G000280 Rep. Goode, Virgil H., Jr. [R-VA-5] VIRGIL GOODE R VA H. 5 2005-07-12 False F000238 Rep. Foley, Mark [R-FL-16] MARK FOLEY R FL 16 2005-07-20 False C001055 Rep. Case, Ed [D-HI-2] Ed Case D HI 2 2005-07-21 False A000361 Rep. Alexander, Rodney [R-LA-5] Rodney Alexander R LA 5 2005-07-27 False M001161 Rep. Melancon, Charlie [D-LA-3] Charlie Melancon D LA 3 2005-09-20 False C001046 Rep. Cantor, Eric [R-VA-7] ERIC CANTOR R VA 7 2005-09-27 False B001235 Rep. Brown, Henry E., Jr. [R-SC-1] HENRY BROWN R SC E. 1 2005-09-29 False B000072 Rep. Baker, Richard H. [R-LA-6] RICHARD BAKER R LA H. 6 2005-10-06 False R000487 Rep. Royce, Edward R. [R-CA-40] ED ROYCE R CA 40 2005-11-04 False R000570 Rep. Ryan, Paul [R-WI-1] PAUL RYAN R WI 1 2006-02-14 False G000289 Rep. Goodlatte, Bob [R-VA-6] ROBERT GOODLATTE R VA W. 6 2006-02-15 False L000293 Rep. Lewis, Ron [R-KY-2] RON LEWIS R KY 2 2006-09-20 False M001151 Rep. Murphy, Tim [R-PA-18] Tim Murphy R PA 18 2006-09-27 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 2005-06-29 Introduced in House 2005-08-11T14:13:20Z Employee Stock Ownership Plan Promotion and Improvement Act of 2005 - Amends the Internal Revenue Code to: (1) exempt certain distributions, including dividends, by S corporations to an employee stock ownership plan (ESOP) from the penalty tax for premature employee benefit plan withdrawals; (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 ESOPs 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; (6) allow early distributions from an ESOP for higher education expenses and first-time homebuyer purchases without penalty; and (7) allow a de minimis exception from pension plan diversification requirements for ESOP accounts with balances of $2,500 or less.

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Display Title Official Title as Introduced Introduced in House IH Short Titles as Introduced Introduced in House 2005-06-29T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-109hr3111ih/xml/BILLS-109hr3111ih.xml 2005-07-01 Referred to the Subcommittee on Trade. 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.