HR 2705
104th Congress
House
Labor and Employment
Commerce
Economics and Public Finance
Employee stock options
Federally-guaranteed loans
Finance and Financial Sector
Government Operations and Politics
Government lending
Grants-in-aid
Profit sharing
Small business
Subsidies
American Profit Sharing Act
Introduced: December 5, 1995
See on congress.gov
Everywhere this bill has been
4 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 22, 1995
Referred to the Subcommittee on Employer-Employee Relations.
Dec 11, 1995
Referred to the Subcommittee on Government Management, Information and Technology.
Dec 5, 1995
Introduced in House
Dec 5, 1995
Referred to the Committee on Government Reform and Oversight, and in addition to the Committee on Economic and Educational Opportunities, 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.
Plain-English summary
American Profit Sharing Act - Permits the provision of Federal contracts and certain Federal subsidies only to businesses which have a stock bonus or profit-sharing plan. Excepts start-up small businesses for one year unless such business: (1) has been in existence for at least ten prior years; (2) has more than five full-time employees (or their equivalent) at any time during the year; and (3) has a gross income exceeding $10 million.
What's happening now
Referred to the Subcommittee on Employer-Employee Relations.