HB4896: Promotion and Expansion of Private Employee Ownership Act of 2023
- 1Introduced (current step)
- 2Passed One Chamber
- 3Passed Both Chambers
- 4Became Law
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Bill information
Summary
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.
Plain-language summary
This bill would change tax and small business rules to make employee stock ownership plans easier to use in S corporations (a common business structure). Employee stock ownership plans, or ESOPs, let workers buy shares and own part of their company. The bill aims to expand how many companies can use ESOPs and make the process simpler. It amends federal tax law and small business law. The bill has been introduced in Congress but has not yet been acted upon by a .
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HB4896: Promotion and Expansion of Private Employee Ownership Act of 2023
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Sponsors
Mike Kelly
Primary SponsorCo-sponsors (62)
Earl Blumenauer
Brad Wenstrup
Carol Miller
Ron Estes
Bill Pascrell