118th Congress Taxation
S. 2515: Promotion and Expansion of Private Employee Ownership Act of 2023
Introduced
- Introduced (completed)
- Passed Senate (not reached)
- Passed House (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This bill accelerates to the enactment date of this bill the deferral of tax (currently, after December 31, 2027) on sales of employer stock to employee stock ownership plans (ESOPs) sponsored by S corporations. It also eliminates the limitation on the amount that may be deferred.
The Department of the Treasury must establish the S Corporation Employee Ownership Assistance Office to foster increased employee ownership of S corporations. The office must provide education and outreach about the benefits of employee ownership of S corporations and technical assistance to assist S corporations in sponsoring ESOPs.
The bill directs the Department of Labor to appoint an Advocate for Employee Ownership.
Written by the Congressional Research Service, Library of Congress.
Roll calls
No roll call votes have been held on this bill.
Amendments
No amendments were offered to this bill.
Cosponsors
- Sherrod Brown D-OHOriginal
- Marsha Blackburn R-TNOriginal
- John Barrasso R-WYOriginal
- Cory Booker D-NJOriginal
- Michael Crapo R-IDOriginal
- Susan Collins R-MEOriginal
- Bill Cassidy R-LAOriginal
- Steve Daines R-MTOriginal
- Charles Grassley R-IAOriginal
- Amy Klobuchar D-MNOriginal
- Angus King I-MEOriginal
- Jerry Moran R-KSOriginal
- John Reed D-RIOriginal
- James Risch R-IDOriginal
- Bernard Sanders I-VTOriginal
- Debbie Stabenow D-MIOriginal
- Tina Smith D-MNOriginal
- Jon Tester D-MTOriginal
- Chris Van Hollen D-MDOriginal
- Peter Welch D-VTOriginal
- Todd Young R-INOriginal
- Maria Cantwell D-WA
- John Thune R-SD
- Thom Tillis R-NC
- Sheldon Whitehouse D-RI
- Mike Braun R-IN
- Jeanne Shaheen D-NH
- Robert Casey D-PA
- Gary Peters D-MI
- Rick Scott R-FL
- John Fetterman D-PA
- Eric Schmitt R-MO
- John Boozman R-AR
- Christopher Coons D-DE
- Mazie Hirono D-HI
- Pete Ricketts R-NE
- Margaret Hassan D-NH
- John Kennedy R-LA
- Tammy Baldwin D-WI
- Deb Fischer R-NE
Who scored on this bill
- 1Benjamin Cardin SponsorDrew cross-party cosponsors, introduced, reached a cosponsor milestone3 events+12
See all scorers and every scoring event
Introductions and cosponsorships count toward weekly caps and show no points.
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History
- Introduced in the Senate by Benjamin Cardin.
Show the full action history (2 actions)
- Introduced in Senate
- Read twice and referred to the Committee on Finance.