3.0.0 1589 2023-01-11T13:37:05Z 2023-01-11T13:37:05Z Senate S 2017-07-19 115 ssfi00 Finance Committee Senate Standing Referred to 2017-07-19T21:06:38Z Promotion and Expansion of Private Employee Ownership Act of 2017 115 2092 HR 2017-04-12 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. Related bill CRS 2017-07-19 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2017-07-19 Introduced in Senate IntroReferral 10000 9 Library of Congress R000307 Sen. Roberts, Pat [R-KS] PAT ROBERTS R KS N C000141 Sen. Cardin, Benjamin L. [D-MD] Ben Cardin D MD 2017-07-19 True W000802 Sen. Whitehouse, Sheldon [D-RI] Sheldon Whitehouse D RI 2017-07-19 True S000770 Sen. Stabenow, Debbie [D-MI] Debbie Stabenow D MI 2017-07-19 True B000575 Sen. Blunt, Roy [R-MO] Roy Blunt R MO 2017-07-19 True G000555 Sen. Gillibrand, Kirsten E. [D-NY] Kirsten Gillibrand D NY E. 2017-07-19 True C001035 Sen. Collins, Susan M. [R-ME] Susan Collins R ME M. 2017-07-19 True G000386 Sen. Grassley, Chuck [R-IA] Charles Grassley R IA E. 2017-07-19 True K000367 Sen. Klobuchar, Amy [D-MN] Amy Klobuchar D MN 2017-07-19 True C001070 Sen. Casey, Robert P., Jr. [D-PA] Bob Casey D PA 2017-07-19 True F000457 Sen. Franken, Al [D-MN] Al Franken D MN 2017-07-19 True P000449 Sen. Portman, Rob [R-OH] Rob Portman R OH 2017-07-19 True C000880 Sen. Crapo, Mike [R-ID] Mike Crapo R ID 2017-07-19 True T000250 Sen. Thune, John [R-SD] John Thune R SD R. 2017-07-19 True T000464 Sen. Tester, Jon [D-MT] Jon Tester D MT 2017-07-19 True B000944 Sen. Brown, Sherrod [D-OH] Sherrod Brown D OH 2017-07-19 True R000584 Sen. Risch, James E. [R-ID] James Risch R ID E. 2017-07-19 True M000934 Sen. Moran, Jerry [R-KS] Jerry Moran R KS 2017-07-19 True C000127 Sen. Cantwell, Maria [D-WA] Maria Cantwell D WA 2017-07-19 True I000055 Sen. Isakson, Johnny [R-GA] Johnny Isakson R GA 2017-07-19 True B001230 Sen. Baldwin, Tammy [D-WI] Tammy Baldwin D WI 2017-07-19 True P000595 Sen. Peters, Gary C. [D-MI] Gary Peters D MI 2017-07-19 True M001170 Sen. McCaskill, Claire [D-MO] Claire McCaskill D MO 2017-07-20 False H001061 Sen. Hoeven, John [R-ND] John Hoeven R ND 2017-09-11 False F000463 Sen. Fischer, Deb [R-NE] Deb Fischer R NE 2017-09-13 False K000383 Sen. King, Angus S., Jr. [I-ME] Angus King I ME S. 2017-10-03 False C001088 Sen. Coons, Christopher A. [D-DE] Christopher Coons D DE A. 2017-10-05 False D000607 Sen. Donnelly, Joe [D-IN] Joe Donnelly D IN 2017-10-19 False E000295 Sen. Ernst, Joni [R-IA] Joni Ernst R IA 2017-10-19 False M001111 Sen. Murray, Patty [D-WA] Patty Murray D WA 2017-10-23 False R000122 Sen. Reed, Jack [D-RI] John Reed D RI F. 2017-11-09 False D000618 Sen. Daines, Steve [R-MT] Steve Daines R MT 2018-02-27 False K000393 Sen. Kennedy, John [R-LA] John Kennedy R LA Neely 2018-04-25 False T000476 Sen. Tillis, Thomas [R-NC] Thomas Tillis R NC Roland 2018-05-21 False L000174 Sen. Leahy, Patrick J. [D-VT] Patrick Leahy D VT 2018-05-22 False H001069 Sen. Heitkamp, Heidi [D-ND] Heidi Heitkamp D ND 2018-05-23 False S000033 Sen. Sanders, Bernard [I-VT] Bernard Sanders I VT 2018-06-11 False D000622 Sen. Duckworth, Tammy [D-IL] Tammy Duckworth D IL 2018-06-28 False T000461 Sen. Toomey, Patrick [R-PA] Patrick Toomey R PA J. 2018-07-16 False V000128 Sen. Van Hollen, Chris [D-MD] Chris Van Hollen D MD 2018-07-26 False Taxation Capital gains tax Department of the Treasury Employee benefits and pensions Executive agency funding and structure Income tax deferral Securities Small business Taxation 00 2017-07-19 Introduced in Senate 2017-08-07T16:13:03Z Promotion and Expansion of Private Employee Ownership Act of 2017

This bill amends the Internal Revenue Code to 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 employee stock ownership plan (ESOP).

The Department of the Treasury must establish the S Corporation Employee Ownership Assistance Office to foster increased employee ownership of S corporations.

The bill also 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.

]]> Promotion and Expansion of Private Employee Ownership Act of 2017 Display Title Promotion and Expansion of Private Employee Ownership Act of 2017 Official Title as Introduced A bill 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 Senate IS Short Titles as Introduced Promotion and Expansion of Private Employee Ownership Act of 2017 Introduced in Senate 2017-07-19T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115s1589is/xml/BILLS-115s1589is.xml 2017-07-19 Read twice and referred to the Committee on Finance. 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.