S. 1416In Committee
Reduction of Excess Business Holding Accrual Act
Allows certain stock a corporation repurchases from an employee stock ownership plan to be counted as outstanding voting stock when applying private foundation excess business holdings excise tax rules
Plain-English overview
What this bill does
Allows certain stock a corporation repurchases from an employee stock ownership plan to be counted as outstanding voting stock when applying private foundation excess business holdings excise tax rules
Key points
- Amend excess business holdings tax rules
- Limit treatment with ownership exceptions
- Allow ESOP repurchased stock treatment
Current status
Where it stands
Status
In Committee
Latest action
2025-04-10 — Read twice and referred to the Committee on Finance.
Related context
Topics and policy areas
undefinedTaxation