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   &lt;pre&gt;[Congressional Record Volume 167, Number 57 (Friday, March 26, 2021)][House]From the Congressional Record Online through the Government Publishing Office [&lt;a href="https://www.gpo.gov"&gt;www.gpo.gov&lt;/a&gt;]By Mr. DIAZ-BALART:H.R. 2207.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8 of the United States Constitution[Page H1693]&lt;/pre&gt;
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     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.
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     Introduced in House
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     2021-06-03T13:24:30Z
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     &lt;p&gt;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. &lt;/p&gt; &lt;p&gt;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.&lt;/p&gt;
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   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.
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     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.
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     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.
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   This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.
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H11100
2021-03-26
Ways and Means Committee
hswm00
2
House floor actions
Referred to the House Committee on Ways and Means.
IntroReferral
Intro-H
2021-03-26
9
Library of Congress
Introduced in House
IntroReferral
1000
2021-03-26
9
Library of Congress
Introduced in House
IntroReferral
2021-03-26T18:10:30Z
Referred to
House
Ways and Means Committee
hswm00
Standing
Congressional Research Service, Library of Congress
This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.
text/xml
EN
Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
2021-03-26
2021-03-26
Referred to the House Committee on Ways and Means.
House
Taxation
2021-05-12
Referred to the House Committee on Ways and Means.
CRS
Identical 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.
HR
2021-06-09
Read twice and referred to the Committee on Finance.
CRS
Identical bill
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.
S
D000600
25
Mario
Rep. Diaz-Balart, Mario [R-FL-25]
N
Diaz-Balart
R
FL
Business investment and capital Employee benefits and pensions Sales and excise taxes Securities Social work, volunteer service, charitable organizations Tax-exempt organizations
2021-03-26
Introduced in House
 <p>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. </p> <p>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.</p>
2021-06-03T13:24:30Z
00
2021-03-26T04:00:00Z
Introduced in House
https://www.govinfo.gov/content/pkg/BILLS-117hr2207ih/xml/BILLS-117hr2207ih.xml
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.
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.
Display Title
IH
Introduced in House
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.
Official Title as Introduced
HR
2023-01-11T13:48:02Z
2023-01-11T13:48:02Z
3.0.0
2021-05-12
Referred to the House Committee on Ways and Means.
CRS
Identical 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.
HR
2021-06-09
Read twice and referred to the Committee on Finance.
CRS
Identical bill
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.
S
H11100
2021-03-26
Ways and Means Committee
hswm00
2
House floor actions
Referred to the House Committee on Ways and Means.
IntroReferral
Intro-H
2021-03-26
9
Library of Congress
Introduced in House
IntroReferral
1000
2021-03-26
9
Library of Congress
Introduced in House
IntroReferral
D000600
25
Mario
Rep. Diaz-Balart, Mario [R-FL-25]
N
Diaz-Balart
R
FL
Business investment and capital Employee benefits and pensions Sales and excise taxes Securities Social work, volunteer service, charitable organizations Tax-exempt organizations
2021-03-26
Introduced in House
 <p>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. </p> <p>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.</p>
2021-06-03T13:24:30Z
00
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.
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.
Display Title
IH
Introduced in House
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.
Official Title as Introduced
2021-03-26
Referred to the House Committee on Ways and Means.