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  <bill>
    <number>2116</number>
    <updateDate>2023-01-11T20:27:33Z</updateDate>
    <updateDateIncludingText>2023-01-11T20:27:33Z</updateDateIncludingText>
    <originChamber>Senate</originChamber>
    <originChamberCode>S</originChamberCode>
    <type>S</type>
    <introducedDate>2007-09-28</introducedDate>
    <congress>110</congress>
    <committees>
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        <systemCode>ssfi00</systemCode>
        <name>Finance Committee</name>
        <chamber>Senate</chamber>
        <type>Standing</type>
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          <item>
            <name>Referred to</name>
            <date>2007-09-28T15:43:58Z</date>
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        <actionDate>2007-09-28</actionDate>
        <committees>
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            <systemCode>ssfi00</systemCode>
            <name>Finance Committee</name>
          </item>
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        <sourceSystem>
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        <text>Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S12339)</text>
        <type>IntroReferral</type>
      </item>
      <item>
        <actionDate>2007-09-28</actionDate>
        <text>Sponsor introductory remarks on measure. (CR S12335-12339)</text>
        <type>IntroReferral</type>
        <actionCode>B00100</actionCode>
        <sourceSystem>
          <code>9</code>
          <name>Library of Congress</name>
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      <item>
        <actionDate>2007-09-28</actionDate>
        <text>Introduced in Senate</text>
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          <name>Library of Congress</name>
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    <sponsors>
      <item>
        <bioguideId>L000261</bioguideId>
        <fullName>Sen. Levin, Carl [D-MI]</fullName>
        <firstName>CARL</firstName>
        <lastName>LEVIN</lastName>
        <party>D</party>
        <state>MI</state>
        <middleName>MILTON</middleName>
        <isByRequest>N</isByRequest>
      </item>
    </sponsors>
    <policyArea>
      <name>Taxation</name>
    </policyArea>
    <subjects>
      <legislativeSubjects>
        <item>
          <name>Commerce</name>
        </item>
        <item>
          <name>Corporation taxes</name>
        </item>
        <item>
          <name>Employee stock options</name>
        </item>
        <item>
          <name>Finance and Financial Sector</name>
        </item>
        <item>
          <name>Income tax</name>
        </item>
        <item>
          <name>Labor and Employment</name>
        </item>
        <item>
          <name>Tax deductions</name>
        </item>
      </legislativeSubjects>
      <policyArea>
        <name>Taxation</name>
      </policyArea>
    </subjects>
    <summaries>
      <summary>
        <versionCode>00</versionCode>
        <actionDate>2007-09-28</actionDate>
        <actionDesc>Introduced in Senate</actionDesc>
        <updateDate>2007-11-21T19:42:43Z</updateDate>
        <text><![CDATA[ <p>Ending Corporate Tax Favors for Stock Options Act - Amends the Internal Revenue Code to: (1) limit the employer tax deduction for stock options granted to its employees to the value of such options as recorded on the employer's books at the time such options are granted; and (2) apply the $1 million limitation on the employer tax deduction for employee remuneration to stock option compensation. </p>]]></text>
      </summary>
    </summaries>
    <title>Ending Corporate Tax Favors for Stock Options Act</title>
    <titles>
      <item>
        <titleType>Official Title as Introduced</titleType>
        <title>A bill to amend the Internal Revenue Code of 1986 to provide that corporate tax benefits based upon stock option compensation expenses be consistent with accounting expenses shown in corporate financial statements for such compensation.</title>
        <billTextVersionName>Introduced in Senate</billTextVersionName>
        <billTextVersionCode>IS</billTextVersionCode>
      </item>
      <item>
        <titleType>Display Title</titleType>
        <title>Ending Corporate Tax Favors for Stock Options Act</title>
      </item>
      <item>
        <titleType>Short Titles as Introduced</titleType>
        <title>Ending Corporate Tax Favors for Stock Options Act</title>
      </item>
    </titles>
    <textVersions>
      <item>
        <type>Introduced in Senate</type>
        <date>2007-09-28T04:00:00Z</date>
        <formats>
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            <url>https://www.govinfo.gov/content/pkg/BILLS-110s2116is/xml/BILLS-110s2116is.xml</url>
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        </formats>
      </item>
    </textVersions>
    <latestAction>
      <actionDate>2007-09-28</actionDate>
      <text>Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S12339)</text>
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    <dc:language>EN</dc:language>
    <dc:rights>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.</dc:rights>
    <dc:contributor>Congressional Research Service, Library of Congress</dc:contributor>
    <dc:description>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.</dc:description>
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