HR 4837 · 113th Congress 2013–2015, ended

Promotion and Expansion of Private Employee Ownership Act of 2014

Introduced Jun 11, 2014 Originated House Sponsor David G. Reichert R-WA

Fact sheet

Latest action · Nov 17, 2014 Referred to the Subcommittee on Health, Employment, Labor, and Pensions.

Progress

Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.

  1. IntroducedJun 11, 2014
  2. Passed HouseNot reached
  3. Passed SenateNot reached
  4. To the PresidentNot reached
  5. Became lawNot reached

Summary

Promotion and Expansion of Private Employee Ownership Act of 2014 - Amends the Internal Revenue Code to: (1) 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 employer stock ownership plan (ESOP); and (2) allow a tax deduction for 50% of the interest incurred on loans to S corporation-sponsored ESOPs for the purchase of employer securities.

Directs the Secretary of the Treasury to establish the S Corporation Employee Ownership Assistance Office to foster increased employee ownership of S corporations.

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.

Cosponsors 37

Members who signed on, in the order they did. Signatures ran from Jun 11, 2014 to Dec 11, 2014, with 7 there on the day it was introduced.

SeatCosponsorSigned on
D-NJBill Pascrell, Jr.OriginalJun 11, 2014
R-LACharles W. Boustany, Jr.OriginalJun 11, 2014
D-OREarl BlumenauerOriginalJun 11, 2014
R-MNErik PaulsenOriginalJun 11, 2014
R-OHPatrick J. TiberiOriginalJun 11, 2014
D-MARichard E. NealOriginalJun 11, 2014
D-WIRon KindOriginalJun 11, 2014
D-MDC. A. Dutch RuppersbergerJun 23, 2014
R-PAMichael G. FitzpatrickJun 23, 2014
D-ORSuzanne BonamiciJun 25, 2014
D-WIGwen MooreJul 8, 2014
D-MIGary C. PetersJul 15, 2014
R-KSLynn JenkinsJul 15, 2014
R-ILPeter J. RoskamJul 23, 2014
D-CAMike ThompsonJul 28, 2014
Show all 37 cosponsors

Actions 3

Everything that happened, newest first.

  1. Nov 17, 2014Referred to the Subcommittee on Health, Employment, Labor, and Pensions.
  2. Jun 11, 2014Introduced in House
  3. Jun 11, 2014Referred 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 bills 1

Companion bills and other measures the record links to this one.

BillTitleRelationshipLatest action
S 742Promotion and Expansion of Private Employee Ownership Act of 2013Related billApr 16, 2013

Subjects

Assigned by the Library of Congress. Policy area: Taxation.

Text 1

Each version as it was printed, newest first.

  1. Jun 11, 2014Introduced in House

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Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.