S 2758
117th Congress
Senate
Taxation
Stock Buyback Accountability Act of 2021
Introduced: September 20, 2021
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 20, 2021
Read twice and referred to the Committee on Finance.
Sep 20, 2021
Introduced in Senate
Plain-English summary
Stock Buyback Accountability Act of 2021
This bill imposes a 2% excise tax on the value of any stock of certain publicly-traded domestic and foreign corporations repurchased (i.e., redeemed) by such corporations. The bill allows exemptions from the tax for repurchases that are part of a reorganization, for repurchased stock that is contributed to an employer-sponsored retirement plan or employee stock ownership plan, for repurchased stock whose value does not exceed $1 million, and for repurchases treated as dividends.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1
Cosponsors
1