Skip to main content
S 1982 117th Congress Senate Taxation Business investment and capital Employee benefits and pensions Sales and excise taxes Securities Social work, volunteer service, charitable organizations Tax-exempt organizations

A bill to amend the Internal Revenue Code of 1986 for purposes of the tax on private foundation excess business holdings to treat as outstanding any employee-owned stock purchased by a business…

Show full title

A bill to amend the Internal Revenue Code of 1986 for purposes of the tax on private foundation excess business holdings to treat as outstanding any employee-owned stock purchased by a business enterprise pursuant to certain employee stock ownership retirement plans.

Introduced: June 9, 2021 See on congress.gov
Sign in to write a letter Sign in to watch
This bill died when the 117th Congress ended
It never became law before the 117th Congress (2021–2022) 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
Jun 9, 2021
Read twice and referred to the Committee on Finance.
Jun 9, 2021
Introduced in Senate
 Ask about this bill AI · grounded in the bill text

Have a question about what this bill does? Ask in plain English; the answer is drawn from the bill's actual text and official record, and it'll tell you when something isn't in the text rather than guess.

AI answers can be imperfect; always confirm against the full bill text.

 Plain-English summary Congressional Research Service

This bill excludes certain purchases of employee-owned stock from being considered as outstanding voting stock for the purpose of the excise tax on excess business holdings of a private foundation in a business enterprise.

The bill applies to any voting stock that is (1) not readily tradable on an established securities market; (2) purchased by the business enterprise on or after January 1, 2005, from an employee stock ownership plan in which employees of the business enterprise participate, in connection with a distribution from the plan; and (3) held by the business enterprise as treasury stock, cancelled, or retired.

What's happening now June 9, 2021

Read twice and referred to the Committee on Finance.

 Related & companion bills 2
  • HR 3152 Identical bill To amend the Internal Revenue Code of 1986 for purposes of the tax on private foundation excess business holdings to tr…
  • HR 2207 Identical bill To amend the Internal Revenue Code of 1986 for purposes of the tax on private foundation excess business holdings to tr…
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1
D
Peters, Gary C.
Michigan · Jun 9, 2021
Cite this page click to expand
APA
U.S. Congress. (2026). S. 1982: A bill to amend the Internal Revenue Code of 1986 for purposes of the tax on private foundation excess business holdings to treat as outstanding any employee-owned stock purchased by a business enterprise pursuant to certain employee stock ownership retirement plans.. 117th Congress. Open America. https://openamerica.io/bill/117-S-1982/
MLA
"S. 1982: A bill to amend the Internal Revenue Code of 1986 for purposes of the tax on private foundation excess business holdings to treat as outstanding any employee-owned stock purchased by a business enterprise pursuant to certain employee stock ownership retirement plans.." 117th Congress, 2026, Open America, https://openamerica.io/bill/117-S-1982/.
Bluebook (legal)
S. 1982, 117th Cong. (2026), https://openamerica.io/bill/117-S-1982/.
Markdown link
[S. 1982: A bill to amend the Internal Revenue Code of 1986 for purposes of the tax on private foundation excess business holdings to treat as outstanding any employee-owned stock purchased by a business enterprise pursuant to certain employee stock ownership retirement plans.](https://openamerica.io/bill/117-S-1982/)
Report a problem