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- S.1618
S.1618: A bill to amend the Internal Revenue Code of 1986 for purposes of the tax on private foundation excess business holdings to treat as outstanding any employee-owned stock purchased by a business enterprise pursuant to certain employee stock ownership retir
About This Bill
- Introduced July 24, 2017
- Latest Major Action July 24, 2017
- See the two similar bills introduced in other congresses.
Bill Sponsor
Bill Version
- Introduced in Senate - July 24, 2017
Bill Summary
This bill amends the Internal Revenue Code to exclude certain purchases of employee-owned stock from being considered as outstanding voting stock for the purpose of the tax on excess business holdings of a private foundation in a business enterprise. The bill applies to any voting stock that is: (1) not readily tradable on an established securities market; (2) purchased by the business enterprise on or after January 1, 2005, from an employee...
(Source: Library of Congress)
Bill Actions
Date | Description |
---|---|
July 24, 2017 |
Read twice and referred to the Committee on Finance.
|
July 24, 2017 |
Introduced in the Senate by Debbie Stabenow (D-Mich.) |