3.0.0 5207 2023-01-11T13:20:14Z 2023-01-11T13:20:14Z House H HR 2010-05-05 111 hssm00 Small Business Committee House Standing Referred to 2010-05-05T14:01:39Z hswm00 Ways and Means Committee House Standing Referred to 2010-05-05T14:01:38Z Employee Stock Ownership Plan Promotion and Improvement Act of 2009 111 1612 S 2009-08-06 Read twice and referred to the Committee on Finance. Related bill CRS 2010-05-05 Referred to House Small Business IntroReferral H11100 2 House floor actions hssm00 Small Business Committee 2010-05-05 Referred to the Committee on Ways and Means, and in addition to the Committee on Small Business, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. IntroReferral H11100-A 9 Library of Congress 2010-05-05 Referred to House Ways and Means IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2010-05-05 Introduced in House IntroReferral Intro-H 9 Library of Congress 2010-05-05 Introduced in House IntroReferral 1000 9 Library of Congress B001255 Rep. Boustany, Charles W., Jr. [R-LA-7] Charles Boustany R LA W. 7 N P000422 Rep. Pomeroy, Earl [D-ND-At Large] EARL POMEROY D ND 0 2010-05-05 True H000528 Rep. Herger, Wally [R-CA-2] WALLY HERGER R CA 2 2010-05-06 False H000627 Rep. Hinchey, Maurice D. [D-NY-22] MAURICE HINCHEY D NY D. 22 2010-05-06 False G000558 Rep. Guthrie, Brett [R-KY-2] Brett Guthrie R KY 2 2010-05-12 False G000549 Rep. Gerlach, Jim [R-PA-6] Jim Gerlach R PA 6 2010-05-12 False H000712 Rep. Holden, Tim [D-PA-17] TIM HOLDEN D PA 17 2010-05-18 False A000361 Rep. Alexander, Rodney [R-LA-5] Rodney Alexander R LA 5 2010-05-19 False P000585 Rep. Platts, Todd Russell [R-PA-19] TODD PLATTS R PA RUSSELL 19 2010-05-24 False M001161 Rep. Melancon, Charlie [D-LA-3] Charlie Melancon D LA 3 2010-06-08 False H001040 Rep. Hare, Phil [D-IL-17] Phil Hare D IL 17 2010-07-01 False J000255 Rep. Jones, Walter B., Jr. [R-NC-3] WALTER JONES R NC B. 3 2010-07-29 False P000258 Rep. Peterson, Collin C. [D-MN-7] COLLIN PETERSON D MN C. 7 2010-07-30 False R000570 Rep. Ryan, Paul [R-WI-1] PAUL RYAN R WI 1 2010-09-14 False E000092 Rep. Ehlers, Vernon J. [R-MI-3] VERNON EHLERS R MI J. 3 2010-11-15 False Taxation Employee benefits and pensions Financial services and investments Government lending and loan guarantees Income tax deductions Income tax exclusion Income tax rates Interest, dividends, interest rates Securities Small business Taxation 00 2010-05-05 Introduced in House 2010-05-22T14:18:05Z Employee Stock Ownership Plan Promotion and Improvement Act of 2010 - 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; and (5) modify certain ESOP stock ownership rules.

Amends the Small Business Act to allow a majority-owned ESOP business concern to continue to qualify for loans, preferences, and other programs under such Act.

]]> Employee Stock Ownership Plan Promotion and Improvement Act of 2010 Display Title Employee Stock Ownership Plan Promotion and Improvement Act of 2010 Official Title as Introduced To amend the Internal Revenue Code of 1986 to improve the operation of employee stock ownership plans, and for other purposes. Introduced in House IH Short Titles as Introduced Employee Stock Ownership Plan Promotion and Improvement Act of 2010 Introduced in House 2010-05-05T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-111hr5207ih/xml/BILLS-111hr5207ih.xml 2010-05-05 Referred to House Small Business 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.