3.0.0 8606 2023-01-11T13:44:31Z 2023-01-11T13:44:31Z House HR 2020-10-16 116 [Congressional Record Volume 166, Number 177 (Friday, October 16, 2020)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. KIND:H.R. 8606.Congress has the power to enact this legislation pursuantto the following:Article I Section 8 of the United States Constitution.[Page H5694]]]> hsed00 Education and the Workforce Committee House Standing Referred to 2020-10-16T13:01:00Z hswm00 Ways and Means Committee House Standing Referred to 2020-10-16T13:00:50Z Securing a Strong Retirement Act of 2020 116 8696 HR 2020-10-27 Referred to the Committee on Ways and Means, and in addition to the Committees on Financial Services, and Education and Labor, 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 2020-10-16 Referred to the Committee on Ways and Means, and in addition to the Committee on Education and Labor, 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 2020-10-16 Referred to the Committee on Ways and Means, and in addition to the Committee on Education and Labor, 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 2020-10-16 Introduced in House IntroReferral Intro-H 9 Library of Congress 2020-10-16 Introduced in House IntroReferral 1000 9 Library of Congress K000188 Rep. Kind, Ron [D-WI-3] RON KIND D WI 3 N K000376 Rep. Kelly, Mike [R-PA-16] Mike Kelly R PA 16 2020-10-16 True S001195 Rep. Smith, Jason [R-MO-8] Jason Smith R MO 8 2020-10-16 True Taxation Business records Employee benefits and pensions Income tax deferral Interest, dividends, interest rates Sales and excise taxes Securities Taxation 00 2020-10-16 Introduced in House 2021-05-25T15:22:10Z This bill extends to all domestic corporations (including S corporations) the deferral of tax on certain sales of employer stock to employee stock ownership plans (ESOPs) and reduces certain retirement-related excise taxes.

Specifically, the bill reduces excise tax rates of certain excess accumulations in tax-exempt retirement plans and on failures to take required minimum distributions from such plans. It also allows employers who establish a tax-exempt 403(b) pension plan to participate in a multiple employer plan.

The bill extends the tax credit for small employer pension plan startup costs to employers that join an existing plan.

]]> To defer the tax of certain sales of employer stock and reduce certain retirement-related excise taxes, and for other purposes. Display Title To defer the tax of certain sales of employer stock and reduce certain retirement-related excise taxes, and for other purposes. Official Title as Introduced To defer the tax of certain sales of employer stock and reduce certain retirement-related excise taxes, and for other purposes. Introduced in House IH Introduced in House 2020-10-16T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr8606ih/xml/BILLS-116hr8606ih.xml 2020-10-16 Referred to the Committee on Ways and Means, and in addition to the Committee on Education and Labor, 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. 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.