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S 1212 114th Congress Senate Taxation Capital gains tax Department of the Treasury Employee benefits and pensions Executive agency funding and structure Income tax deferral Securities Small business

Promotion and Expansion of Private Employee Ownership Act of 2015

Introduced: May 6, 2015 See on congress.gov
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This bill died when the 114th Congress ended
It never became law before the 114th Congress (2015–2016) 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 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 6, 2015
Read twice and referred to the Committee on Finance.
May 6, 2015
Introduced in Senate
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 Plain-English summary Congressional Research Service

Promotion and Expansion of Private Employee Ownership Act of 2015

Amends the Internal Revenue Code to 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 employee stock ownership plan (ESOP).

Directs the Department 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 May 6, 2015

Read twice and referred to the Committee on Finance.

 Related & companion bills 2
  • HR 2096 Related bill Promotion and Expansion of Private Employee Ownership Act of 2015
  • SRES 252 Related bill An original resolution expressing the sense of the Committee on Small Business and Entrepreneurship of the Senate relat…
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 19
All 19 Democratic 7 Republican 10 Independent 2
R
Grassley, Chuck
Iowa · Jun 8, 2016
 R
Ernst, Joni
Iowa · May 17, 2016
 D
Gillibrand, Kirsten E.
New York · Dec 1, 2015
 R
Daines, Steve
Montana · Sep 17, 2015
 D
Cantwell, Maria
Washington · Sep 9, 2015
 D
Peters, Gary C.
Michigan · Jul 29, 2015
 D
Reed, Jack
Rhode Island · Jul 14, 2015
 R
Boozman, John
Arkansas · Jul 7, 2015
 R
Hoeven, John
North Dakota · Jun 22, 2015
 R
Moran, Jerry
Kansas · Jun 2, 2015
 I
King, Angus S., Jr.
Maine · May 18, 2015
 I
Sanders, Bernard
Vermont · May 14, 2015
 D
Baldwin, Tammy
Wisconsin · May 11, 2015
 R
Collins, Susan M.
Maine · May 6, 2015
 R
Crapo, Mike
Idaho · May 6, 2015
 D
Klobuchar, Amy
Minnesota · May 6, 2015
 R
Risch, James E.
Idaho · May 6, 2015
 R
Thune, John
South Dakota · May 6, 2015
 D
Whitehouse, Sheldon
Rhode Island · May 6, 2015
Cite this page click to expand
APA
U.S. Congress. (2026). S. 1212: Promotion and Expansion of Private Employee Ownership Act of 2015. 114th Congress. Open America. https://openamerica.io/bill/114-S-1212/
MLA
"S. 1212: Promotion and Expansion of Private Employee Ownership Act of 2015." 114th Congress, 2026, Open America, https://openamerica.io/bill/114-S-1212/.
Bluebook (legal)
S. 1212, 114th Cong. (2026), https://openamerica.io/bill/114-S-1212/.
Markdown link
[S. 1212: Promotion and Expansion of Private Employee Ownership Act of 2015](https://openamerica.io/bill/114-S-1212/)
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