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HR 1244 112th Congress House Taxation Department of the Treasury Employee benefits and pensions Executive agency funding and structure Income tax deductions Income tax deferral Interest, dividends, interest rates Securities Small business

Promotion and Expansion of Private Employee Ownership Act of 2011

Introduced: August 2, 2012 See on congress.gov
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This bill died when the 112th Congress ended
It never became law before the 112th Congress (2011–2012) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 15, 2011
Referred to the Subcommittee on Health, Employment, Labor, and Pensions.
Mar 29, 2011
Referred 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.
Mar 29, 2011
Introduced in House
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 Plain-English summary Congressional Research Service

Promotion and Expansion of Private Employee Ownership Act of 2011 - 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.

What's happening now April 15, 2011

Referred to the Subcommittee on Health, Employment, Labor, and Pensions.

 Related & companion bills 1
  • S 1512 Related bill Promotion and Expansion of Private Employee Ownership Act of 2011
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 4
 Cosponsors 52
All 52 Democratic 14 Republican 6
ROYCE, ED
· Nov 14, 2012
BIGGERT, JUDY
· Sep 21, 2012
 D
Bonamici, Suzanne
Oregon · Sep 21, 2012
Bishop, Rob
· Sep 19, 2012
 D
Quigley, Mike
Illinois · Sep 14, 2012
 R
Cassidy, Bill
Louisiana · Aug 2, 2012
Reed, Tom
· Aug 2, 2012
 R
Turner, Michael R.
Ohio · Aug 2, 2012
Bonner, Jo
· Aug 1, 2012
Rokita, Todd
· Jul 30, 2012
Poe, Ted
· Jul 9, 2012
 D
Pingree, Chellie
Maine · Jun 7, 2012
WALDEN, GREG
· May 17, 2012
Marino, Tom
· May 9, 2012
Rodgers, Cathy
· Apr 16, 2012
King, Steve
· Mar 16, 2012
CULBERSON, JOHN
· Feb 2, 2012
GOODLATTE, ROBERT
· Jan 10, 2012
Yoder, Kevin
· Dec 20, 2011
 D
Carson, André
Indiana · Nov 29, 2011
SENSENBRENNER, F.
· Nov 29, 2011
 D
Schakowsky, Janice D.
Illinois · Nov 3, 2011
 D
McGovern, James P.
Massachusetts · Oct 31, 2011
FRELINGHUYSEN, RODNEY
· Oct 7, 2011
JOHNSON, TIMOTHY
· Oct 7, 2011
 D
McCollum, Betty
Minnesota · Oct 7, 2011
 R
Thompson, Glenn
Pennsylvania · Sep 29, 2011
Noem, Kristi
· Sep 15, 2011
REHBERG, DENNY
· Sep 12, 2011
AKIN, W.
· Sep 8, 2011
GREEN, GENE
· Sep 8, 2011
 R
Buchanan, Vern
Florida · Aug 26, 2011
 D
Davis, Danny K.
Illinois · Jul 29, 2011
 R
Sessions, Pete
Texas · Jul 22, 2011
 D
Courtney, Joe
Connecticut · Jul 15, 2011
 D
Neal, Richard E.
Massachusetts · Jul 15, 2011
Hultgren, Randy
· Jul 8, 2011
 D
Moore, Gwen
Wisconsin · Jul 8, 2011
Walz, Timothy
· Jul 8, 2011
ROS-LEHTINEN, ILEANA
· Jun 24, 2011
 D
Peters, Gary C.
Michigan · Jun 3, 2011
 D
Cleaver, Emanuel
Missouri · May 26, 2011
MANZULLO, DONALD
· May 26, 2011
 D
Welch, Peter
Vermont · May 26, 2011
Marchant, Kenny
· May 13, 2011
PLATTS, TODD
· May 13, 2011
Alexander, Rodney
· May 4, 2011
 R
Graves, Sam
Missouri · May 2, 2011
Jenkins, Lynn
· May 2, 2011
TIBERI, PATRICK
· May 2, 2011
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Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 1244: Promotion and Expansion of Private Employee Ownership Act of 2011. 112th Congress. Open America. https://openamerica.io/bill/112-HR-1244/
MLA
"H.R. 1244: Promotion and Expansion of Private Employee Ownership Act of 2011." 112th Congress, 2026, Open America, https://openamerica.io/bill/112-HR-1244/.
Bluebook (legal)
H.R. 1244, 112th Cong. (2026), https://openamerica.io/bill/112-HR-1244/.
Markdown link
[H.R. 1244: Promotion and Expansion of Private Employee Ownership Act of 2011](https://openamerica.io/bill/112-HR-1244/)
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