HR 4239 · 98th Congress · Labor and Employment

Employee Stock Ownership Plan Expansion Act

Introduced 1983-10-27· Sponsored by Rep. Pickle, J. J. [D-TX-10]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1983-10-27)

Plain Language Summary

[AI summary unavailable — showing source text] Employee Stock Ownership Plan Expansion Act - Amends the Internal Revenue Code to repeal the voting rights pass through requirement as it applies to employee stock ownership plans of closely-held corporations. Allows the acquisition of nonvoting common stock by employee stock ownership plans if the employer has a class of nonvoting common stock outstanding and the specific shares acquired have been issued and outstanding for at least 24 months.…

Summarized by Claude AI · Non-partisan · For informational purposes only