S.1612: Employee Stock Ownership Plan Promotion and Improvement Act of 2009

About This Bill

Bill Summary

Employee Stock Ownership Plan Promotion and Improvement Act of 2009 - 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...

(Source: Library of Congress)

Bill Actions

Date Description
Read twice and referred to the Committee on Finance.
Aug. 6, 2009

Introduced in the Senate by Blanche Lincoln (D-Ark.)

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