Promotion and Expansion of Private Employee Ownership Act of 2011

3.0.0 1244 2021-09-28T13:24:47Z 2021-09-28T13:24:47Z House H HR 2011-03-29 112 From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. REICHERT:H.R. 1244.Congress has the power to enact this legislation pursuantto the following:The constitutional authority of Congress to enact thislegislation is provided by Article I, Section 8 of the UnitedStates Constitution, specifically Clause 1 (relating toproviding for the general welfare of the United States) andClause 18 (relating to the power to make all laws necessaryand proper for carrying out the powers vested in Congress),and Article IV, Section 3, Clause 2 (relating to the power ofCongress to dispose of and make all needful rules andregulations respecting the territory or other propertybelonging to the United States).[Page H2039]]]> hsed00 Education and the Workforce Committee House Standing hsed02 Health, Employment, Labor, and Pensions Subcommittee Referred to 2011-04-15T20:18:30Z Referred to 2011-03-29T18:02:05Z hssm00 Small Business Committee House Standing Referred to 2011-03-29T18:02:10Z hswm00 Ways and Means Committee House Standing Referred to 2011-03-29T18:02:00Z Promotion and Expansion of Private Employee Ownership Act of 2011 112 1512 S 2011-09-06 Read twice and referred to the Committee on Finance. Related bill CRS 2011-04-15 hsed02 Health, Employment, Labor, and Pensions Subcommittee 1 House committee actions Referred to the Subcommittee on Health, Employment, Labor, and Pensions. Committee 2011-03-29 Referred to the Committee on Ways and Means, and in addition to the Committees on Education and the Workforce, and 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 2 House floor actions hssm00 Small Business Committee 2011-03-29 Referred to the Committee on Ways and Means, and in addition to the Committees on Education and the Workforce, and 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 2 House floor actions hsed00 Education and the Workforce Committee 2011-03-29 Referred to the Committee on Ways and Means, and in addition to the Committees on Education and the Workforce, and 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 2 House floor actions hswm00 Ways and Means Committee 2011-03-29 Introduced in House IntroReferral Intro-H 9 Library of Congress 2011-03-29 Introduced in House IntroReferral 1000 9 Library of Congress R000578 Rep. Reichert, David G. [R-WA-8] David Reichert R WA G. 8 N K000188 Rep. Kind, Ron [D-WI-3] RON KIND D WI 3 2011-03-29 True B001255 Rep. Boustany, Charles W., Jr. [R-LA-7] Charles Boustany R LA W. 7 2011-03-29 True B000574 Rep. Blumenauer, Earl [D-OR-3] EARL BLUMENAUER D OR 3 2011-03-29 True P000594 Rep. Paulsen, Erik [R-MN-3] Erik Paulsen R MN 3 2011-03-29 True P000096 Rep. Pascrell, Bill, Jr. [D-NJ-8] WILLIAM PASCRELL D NJ J. 8 2011-03-29 True R000580 Rep. Roskam, Peter J. [R-IL-6] Peter Roskam R IL J. 6 2011-04-14 False T000462 Rep. Tiberi, Patrick J. [R-OH-12] PATRICK TIBERI R OH J. 12 2011-05-02 False J000290 Rep. Jenkins, Lynn [R-KS-2] Lynn Jenkins R KS 2 2011-05-02 False G000546 Rep. Graves, Sam [R-MO-6] SAM GRAVES R MO 6 2011-05-02 False A000361 Rep. Alexander, Rodney [R-LA-5] Rodney Alexander R LA 5 2011-05-04 False H000627 Rep. Hinchey, Maurice D. [D-NY-22] MAURICE HINCHEY D NY D. 22 2011-05-04 False B000652 Rep. Boswell, Leonard L. [D-IA-3] LEONARD BOSWELL D IA L. 3 2011-05-13 False M001158 Rep. Marchant, Kenny [R-TX-24] Kenny Marchant R TX 24 2011-05-13 False P000585 Rep. Platts, Todd Russell [R-PA-19] TODD PLATTS R PA RUSSELL 19 2011-05-13 False C001061 Rep. Cleaver, Emanuel [D-MO-5] Emanuel Cleaver D MO 5 2011-05-26 False L000565 Rep. Loebsack, David [D-IA-2] David Loebsack D IA 2 2011-05-26 False M001138 Rep. Manzullo, Donald A. [R-IL-16] DONALD MANZULLO R IL 16 2011-05-26 False W000800 Rep. Welch, Peter [D-VT-At Large] Peter Welch D VT 0 2011-05-26 False B001259 Rep. Braley, Bruce L. [D-IA-1] Bruce Braley D IA L. 1 2011-06-03 False P000595 Rep. Peters, Gary C. [D-MI-9] Gary Peters D MI 9 2011-06-03 False B001272 Rep. Berg, Rick [R-ND-At Large] Rick Berg R ND 0 2011-06-24 False R000435 Rep. Ros-Lehtinen, Ileana [R-FL-18] ILEANA ROS-LEHTINEN R FL 18 2011-06-24 False R000590 Rep. Rivera, David [R-FL-25] David Rivera R FL 25 2011-06-24 False W000799 Rep. Walz, Timothy J. [D-MN-1] Timothy Walz D MN J. 1 2011-07-08 False S001179 Rep. Schock, Aaron [R-IL-18] Aaron Schock R IL 18 2011-07-08 False S001162 Rep. Schwartz, Allyson Y. [D-PA-13] Allyson Schwartz D PA Y. 13 2011-07-08 False M001149 Rep. Michaud, Michael H. [D-ME-2] Michael Michaud D ME H. 2 2011-07-08 False M001160 Rep. Moore, Gwen [D-WI-4] Gwen Moore D WI 4 2011-07-08 False H001059 Rep. Hultgren, Randy [R-IL-14] Randy Hultgren R IL 14 2011-07-08 False C001069 Rep. Courtney, Joe [D-CT-2] Joe Courtney D CT 2 2011-07-15 False N000015 Rep. Neal, Richard E. [D-MA-2] RICHARD NEAL D MA E. 2 2011-07-15 False S000250 Rep. Sessions, Pete [R-TX-32] PETE SESSIONS R TX 32 2011-07-22 False C001060 Rep. Carnahan, Russ [D-MO-3] Russ Carnahan D MO 3 2011-07-29 False D000096 Rep. Davis, Danny K. [D-IL-7] DANNY DAVIS D IL K. 7 2011-07-29 False B001260 Rep. Buchanan, Vern [R-FL-13] Vern Buchanan R FL 13 2011-08-26 False G000410 Rep. Green, Gene [D-TX-29] GENE GREEN D TX 29 2011-09-08 False A000358 Rep. Akin, W. Todd [R-MO-2] W. AKIN R MO TODD 2 2011-09-08 False D000613 Rep. Dold, Robert J. [R-IL-10] Robert Dold R IL J. 10 2011-09-09 False L000569 Rep. Luetkemeyer, Blaine [R-MO-9] Blaine Luetkemeyer R MO 9 2011-09-09 False T000459 Rep. Terry, Lee [R-NE-2] LEE TERRY R NE 2 2011-09-09 False R000571 Rep. Rehberg, Denny [R-MT-At Large] DENNY REHBERG R MT 0 2011-09-12 False O000169 Rep. Owens, William L. [D-NY-23] William Owens D NY L. 23 2011-09-15 False G000551 Rep. Grijalva, Raúl M. [D-AZ-7] Raúl Grijalva D AZ M. 7 2011-09-15 False N000184 Rep. Noem, Kristi L. [R-SD-At Large] Kristi Noem R SD L. 0 2011-09-15 False T000467 Rep. Thompson, Glenn [R-PA-5] Glenn Thompson R PA 5 2011-09-29 False W000811 Rep. Walsh, Joe [R-IL-8] Joe Walsh R IL 8 2011-10-07 False J000285 Rep. Johnson, Timothy V. [R-IL-15] TIMOTHY JOHNSON R IL V. 15 2011-10-07 False F000372 Rep. Frelinghuysen, Rodney P. [R-NJ-11] RODNEY FRELINGHUYSEN R NJ 11 2011-10-07 False M000933 Rep. Moran, James P. [D-VA-8] JAMES MORAN D VA P. 8 2011-10-07 False G000549 Rep. Gerlach, Jim [R-PA-6] Jim Gerlach R PA 6 2011-10-07 False K000378 Rep. Kinzinger, Adam [R-IL-11] Adam Kinzinger R IL 11 2011-10-07 False M001143 Rep. McCollum, Betty [D-MN-4] BETTY MCCOLLUM D MN 4 2011-10-07 False F000451 Rep. Fitzpatrick, Michael G. [R-PA-8] Michael Fitzpatrick R PA G. 8 2011-10-31 False M000312 Rep. McGovern, James P. [D-MA-3] JAMES MCGOVERN D MA P. 3 2011-10-31 False S001145 Rep. Schakowsky, Janice D. [D-IL-9] JANICE SCHAKOWSKY D IL D. 9 2011-11-03 False P000373 Rep. Pitts, Joseph R. [R-PA-16] JOSEPH PITTS R PA R. 16 2011-11-03 False C001072 Rep. Carson, Andre [D-IN-7] Andre Carson D IN 7 2011-11-29 False S000244 Rep. Sensenbrenner, F. James, Jr. [R-WI-5] F. SENSENBRENNER R WI JAMES 5 2011-11-29 False M001144 Rep. Miller, Jeff [R-FL-1] Jeff Miller R FL 1 2011-12-02 False R000587 Rep. Ribble, Reid J. [R-WI-8] Reid Ribble R WI J. 8 2011-12-20 False Y000063 Rep. Yoder, Kevin [R-KS-3] Kevin Yoder R KS 3 2011-12-20 False G000289 Rep. Goodlatte, Bob [R-VA-6] ROBERT GOODLATTE R VA W. 6 2012-01-10 False C001048 Rep. Culberson, John Abney [R-TX-7] JOHN CULBERSON R TX ABNEY 7 2012-02-02 False K000362 Rep. King, Steve [R-IA-5] Steve King R IA 5 2012-03-16 False L000576 Rep. Long, Billy [R-MO-7] Billy Long R MO 7 2012-03-20 False C000266 Rep. Chabot, Steve [R-OH-1] STEVE CHABOT R OH 1 2012-03-26 False F000445 Rep. Forbes, J. Randy [R-VA-4] J. Forbes R VA Randy 4 2012-03-29 False M001159 Rep. McMorris Rodgers, Cathy [R-WA-5] Cathy McMorris Rodgers R WA 5 2012-04-16 False H001032 Rep. Holt, Rush [D-NJ-12] RUSH HOLT D NJ D. 12 2012-04-24 False M001179 Rep. Marino, Tom [R-PA-10] Tom Marino R PA 10 2012-05-09 False W000791 Rep. Walden, Greg [R-OR-2] GREG WALDEN R OR 2 2012-05-17 False L000287 Rep. Lewis, John [D-GA-5] JOHN LEWIS D GA 5 2012-05-22 False L000111 Rep. Latham, Tom [R-IA-4] TOM LATHAM R IA 4 2012-05-22 False O000168 Rep. Olson, Pete [R-TX-22] Pete Olson R TX 22 2012-05-30 False P000597 Rep. Pingree, Chellie [D-ME-1] Chellie Pingree D ME 1 2012-06-07 False P000258 Rep. Peterson, Collin C. [D-MN-7] COLLIN PETERSON D MN C. 7 2012-06-27 False P000592 Rep. Poe, Ted [R-TX-2] Ted Poe R TX 2 2012-07-09 False H001055 Rep. Heck, Joseph J. [R-NV-3] Joseph Heck R NV J. 3 2012-07-11 False H001034 Rep. Honda, Michael M. [D-CA-15] MICHAEL HONDA D CA M. 15 2012-07-23 False P000265 Rep. Petri, Thomas E. [R-WI-6] TOM PETRI R WI 6 2012-07-26 False R000592 Rep. Rokita, Todd [R-IN-4] Todd Rokita R IN 4 2012-07-30 False B001244 Rep. Bonner, Jo [R-AL-1] Jo Bonner R AL 1 2012-08-01 False C001075 Rep. Cassidy, Bill [R-LA-6] Bill Cassidy R LA 6 2012-08-02 False R000585 Rep. Reed, Tom [R-NY-29] Tom Reed R NY 29 2012-08-02 False T000463 Rep. Turner, Michael R. [R-OH-3] Michael Turner R OH R. 3 2012-08-02 False H001053 Rep. Hartzler, Vicky [R-MO-4] Vicky Hartzler R MO 4 2012-09-10 False C001078 Rep. Connolly, Gerald E. [D-VA-11] Gerald Connolly D VA E. 11 2012-09-10 False G000570 Rep. Guinta, Frank C. [R-NH-1] Frank Guinta R NH C. 1 2012-09-10 False Q000023 Rep. Quigley, Mike [D-IL-5] Mike Quigley D IL 5 2012-09-14 False B001250 Rep. Bishop, Rob [R-UT-1] Rob Bishop R UT 1 2012-09-19 False B001232 Rep. Biggert, Judy [R-IL-13] JUDY BIGGERT R IL 13 2012-09-21 False B001278 Rep. Bonamici, Suzanne [D-OR-1] Suzanne Bonamici D OR 1 2012-09-21 False S001187 Rep. Stivers, Steve [R-OH-15] Steve Stivers R OH 15 2012-09-21 False R000487 Rep. Royce, Edward R. [R-CA-40] ED ROYCE R CA 40 2012-11-14 False Taxation Department of the Treasury Employee benefits and pensions Executive agency funding and structure Income tax deductions Income tax deferral Interest, dividends, interest rates Securities Small business Taxation

00 2011-03-29 Introduced in House 2011-05-12T14:19:17Z Promotion and Expansion of Private Employee Ownership Act of 2011 - Amends the Internal Revenue Code to: (1) extend to all domestic corporations, including S corporations, provisions allowing deferral of tax on gain from the sale of employer securities to an S corporation-sponsored employer stock ownership plan (ESOP); and (2) allow a tax deduction for 50% of the interest incurred on loans to S corporation-sponsored ESOPs for the purchase of employer securities.

Directs the Secretary of the Treasury to establish the S Corporation Employee Ownership Assistance Office to foster increased employee ownership of S corporations.

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

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Promotion and Expansion of Private Employee Ownership Act of 2011 Short Titles as Introduced Promotion and Expansion of Private Employee Ownership Act of 2011 Display Title Promotion and Expansion of Private Employee Ownership Act of 2011 Official Title as Introduced To amend the Internal Revenue Code of 1986 and the Small Business Act to expand the availability of employee stock ownership plans in S corporations, and for other purposes. Introduced in House 2011-03-29T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-112hr1244ih/xml/BILLS-112hr1244ih.xml 2011-04-15 Referred to the Subcommittee on Health, Employment, Labor, and Pensions. 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.