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114-hr-2096114th Congress

Promotion and Expansion of Private Employee Ownership Act of 2015

Sponsored By: Representative Reichert, David G. [R-WA-8]

Unknown

Summary

Promotion and Expansion of Private Employee Ownership Act of 2015 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 employee 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 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.

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & CoSponsors

Sponsor

Reichert, David G. [R-WA-8]

WA • R

Cosponsors

  • Rep. Kind, Ron [D-WI-3]

    WI • D

    Sponsored 4/29/2015

  • PATRICK TIBERI

    OH • R

    Sponsored 4/29/2015

  • Rep. Neal, Richard E. [D-MA-1]

    MA • D

    Sponsored 4/29/2015

  • Rep. Paulsen, Erik [R-MN-3]

    MN • R

    Sponsored 4/29/2015

  • Rep. Blumenauer, Earl [D-OR-3]

    OR • D

    Sponsored 4/29/2015

  • Rep. Boustany, Charles W., Jr. [R-LA-3]

    LA • R

    Sponsored 4/29/2015

  • Rep. Smith, Jason [R-MO-8]

    MO • R

    Sponsored 5/21/2015

  • JOHN CONYERS

    MI • D

    Sponsored 5/21/2015

  • Rep. Davis, Rodney [R-IL-13]

    IL • R

    Sponsored 5/21/2015

  • ROBERT GOODLATTE

    VA • R

    Sponsored 5/21/2015

  • Rep. Yoder, Kevin [R-KS-3]

    KS • R

    Sponsored 6/9/2015

  • Rep. Roskam, Peter J. [R-IL-6]

    IL • R

    Sponsored 6/15/2015

  • Rep. Blum, Rod [R-IA-1]

    IA • R

    Sponsored 6/25/2015

  • Rep. Walz, Timothy J. [D-MN-1]

    MN • D

    Sponsored 7/7/2015

  • Rep. Pascrell, Bill, Jr. [D-NJ-9]

    NJ • D

    Sponsored 4/29/2015

  • Rep. Dold, Robert J. [R-IL-10]

    IL • R

    Sponsored 5/5/2015

  • Rep. Ashford, Brad [D-NE-2]

    NE • D

    Sponsored 5/5/2015

  • Rep. Moore, Gwen [D-WI-4]

    WI • D

    Sponsored 5/5/2015

  • Rep. Marchant, Kenny [R-TX-24]

    TX • R

    Sponsored 5/21/2015

  • Sen. Cramer, Kevin [R-ND]

    ND • R

    Sponsored 6/2/2015

  • Rep. Abraham, Ralph Lee [R-LA-5]

    LA • R

    Sponsored 6/15/2015

  • Rep. Noem, Kristi L. [R-SD-At Large]

    SD • R

    Sponsored 6/17/2015

  • Rep. Grothman, Glenn [R-WI-6]

    WI • R

    Sponsored 6/19/2015

  • Rep. Jenkins, Lynn [R-KS-2]

    KS • R

    Sponsored 7/9/2015

  • Rep. Simpson, Michael K. [R-ID-2]

    ID • R

    Sponsored 7/14/2015

  • Rep. Hultgren, Randy [R-IL-14]

    IL • R

    Sponsored 7/14/2015

  • Rep. Meehan, Patrick [R-PA-7]

    PA • R

    Sponsored 7/16/2015

  • Rep. McMorris Rodgers, Cathy [R-WA-5]

    WA • R

    Sponsored 7/16/2015

  • Rep. Renacci, James B. [R-OH-16]

    OH • R

    Sponsored 7/23/2015

  • Rep. Huizenga, Bill [R-MI-4]

    MI • R

    Sponsored 7/27/2015

  • Rep. Thompson, Glenn [R-PA-15]

    PA • R

    Sponsored 7/28/2015

  • COLLIN PETERSON

    MN • D

    Sponsored 7/28/2015

  • Rep. Costello, Ryan A. [R-PA-6]

    PA • R

    Sponsored 7/29/2015

  • Rep. Ribble, Reid J. [R-WI-8]

    WI • R

    Sponsored 9/8/2015

  • Rep. Hurt, Robert [R-VA-5]

    VA • R

    Sponsored 9/8/2015

  • SAM FARR

    CA • D

    Sponsored 9/8/2015

  • Rep. Emmer, Tom [R-MN-6]

    MN • R

    Sponsored 9/10/2015

  • Rep. Coffman, Mike [R-CO-6]

    CO • R

    Sponsored 9/15/2015

  • Rep. Fitzpatrick, Michael G. [R-PA-8]

    PA • R

    Sponsored 9/17/2015

  • Rep. Ellison, Keith [D-MN-5]

    MN • D

    Sponsored 9/18/2015

  • Rep. Pittenger, Robert [R-NC-9]

    NC • R

    Sponsored 9/18/2015

  • Rep. Reed, Tom [R-NY-23]

    NY • R

    Sponsored 9/18/2015

  • Rep. Young, David [R-IA-3]

    IA • R

    Sponsored 9/18/2015

  • Rep. Sessions, Pete [R-TX-17]

    TX • R

    Sponsored 9/18/2015

  • Rep. Brownley, Julia [D-CA-26]

    CA • D

    Sponsored 9/22/2015

  • ROBERT BRADY

    PA • D

    Sponsored 9/22/2015

  • Rep. Hanna, Richard L. [R-NY-22]

    NY • R

    Sponsored 9/22/2015

  • Sen. Welch, Peter [D-VT]

    VT • D

    Sponsored 9/24/2015

  • LOUISE SLAUGHTER

    NY • D

    Sponsored 9/28/2015

  • Rep. Larsen, Rick [D-WA-2]

    WA • D

    Sponsored 9/28/2015

  • Rep. Takai, Mark [D-HI-1]

    HI • D

    Sponsored 9/29/2015

  • Rep. Byrne, Bradley [R-AL-1]

    AL • R

    Sponsored 9/29/2015

  • Rep. Zinke, Ryan K. [R-MT-1]

    MT • R

    Sponsored 9/29/2015

  • Rep. Sánchez, Linda T. [D-CA-38]

    CA • D

    Sponsored 10/16/2015

  • Rep. Kelly, Mike [R-PA-16]

    PA • R

    Sponsored 11/5/2015

  • Rep. Loebsack, David [D-IA-2]

    IA • D

    Sponsored 11/16/2015

  • Rep. Thompson, Mike [D-CA-4]

    CA • D

    Sponsored 12/15/2015

  • Rep. Conaway, K. Michael [R-TX-11]

    TX • R

    Sponsored 12/17/2015

  • Rep. Beatty, Joyce [D-OH-3]

    OH • D

    Sponsored 1/6/2016

  • Rep. Rokita, Todd [R-IN-4]

    IN • R

    Sponsored 1/6/2016

  • Rep. Black, Diane [R-TN-6]

    TN • R

    Sponsored 1/13/2016

  • Rep. Aderholt, Robert B. [R-AL-4]

    AL • R

    Sponsored 1/28/2016

  • Rep. Bonamici, Suzanne [D-OR-1]

    OR • D

    Sponsored 2/3/2016

  • RICHARD NOLAN

    MN • D

    Sponsored 3/1/2016

  • Rep. Marino, Tom [R-PA-10]

    PA • R

    Sponsored 3/14/2016

  • Rep. Messer, Luke [R-IN-6]

    IN • R

    Sponsored 4/11/2016

  • Rep. Chabot, Steve [R-OH-1]

    OH • R

    Sponsored 4/27/2016

  • Rep. Hahn, Janice [D-CA-44]

    CA • D

    Sponsored 5/10/2016

  • Rep. Kuster, Ann M. [D-NH-2]

    NH • D

    Sponsored 5/25/2016

  • LUIS GUTIERREZ

    IL • D

    Sponsored 6/3/2016

  • Rep. King, Steve [R-IA-4]

    IA • R

    Sponsored 6/3/2016

  • Rep. Granger, Kay [R-TX-12]

    TX • R

    Sponsored 6/7/2016

  • RUBEN HINOJOSA

    TX • D

    Sponsored 6/14/2016

  • Rep. Kinzinger, Adam [R-IL-16]

    IL • R

    Sponsored 6/22/2016

  • Rep. Knight, Stephen [R-CA-25]

    CA • R

    Sponsored 7/1/2016

  • Rep. Pingree, Chellie [D-ME-1]

    ME • D

    Sponsored 7/6/2016

  • Rep. Kelly, Robin L. [D-IL-2]

    IL • D

    Sponsored 7/7/2016

  • Rep. Davis, Danny K. [D-IL-7]

    IL • D

    Sponsored 7/8/2016

  • Rep. Schakowsky, Janice D. [D-IL-9]

    IL • D

    Sponsored 7/8/2016

  • LAMAR SMITH

    TX • R

    Sponsored 7/11/2016

  • ED ROYCE

    CA • R

    Sponsored 7/11/2016

  • Rep. Pocan, Mark [D-WI-2]

    WI • D

    Sponsored 7/13/2016

  • Rep. Calvert, Ken [R-CA-41]

    CA • R

    Sponsored 7/14/2016

  • Rep. Sinema, Kyrsten [D-AZ-9]

    AZ • D

    Sponsored 7/14/2016

  • Sen. Schiff, Adam B. [D-CA]

    CA • D

    Sponsored 7/14/2016

  • Rep. Joyce, David P. [R-OH-14]

    OH • R

    Sponsored 9/6/2016

  • Rep. Amodei, Mark E. [R-NV-2]

    NV • R

    Sponsored 9/6/2016

  • Rep. Katko, John [R-NY-24]

    NY • R

    Sponsored 9/6/2016

  • Rep. Heck, Joseph J. [R-NV-3]

    NV • R

    Sponsored 9/7/2016

  • Rep. Hartzler, Vicky [R-MO-4]

    MO • R

    Sponsored 9/8/2016

  • Rep. Wagner, Ann [R-MO-2]

    MO • R

    Sponsored 9/12/2016

  • Rep. Williams, Roger [R-TX-25]

    TX • R

    Sponsored 9/12/2016

  • Rep. Scott, David [D-GA-13]

    GA • D

    Sponsored 9/12/2016

  • Rep. Farenthold, Blake [R-TX-27]

    TX • R

    Sponsored 9/20/2016

  • Rep. Polis, Jared [D-CO-2]

    CO • D

    Sponsored 11/17/2016

Roll Call Votes

No roll call votes available for this bill.

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