Reduction of Excess Business Holding Accrual Act

Hozzl · 2025-03-26T05:53:24Z

Explore the details of House Bill 2014 Reduction of Excess Business Holding Accrual Act currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on undefined. Stay informed on legislative developments.

3/26/2025, 5:53 AM

Summary of Bill HR 2014

Bill 119 HR 2014, also known as the Employee-Owned Stock Purchase Act, aims to amend the Internal Revenue Code of 1986 in relation to the tax on private foundation excess business holdings. The bill proposes to consider employee-owned stock purchased by a business enterprise through certain employee stock ownership retirement plans as outstanding for the purpose of calculating the tax on excess business holdings.

This legislation is designed to provide tax relief for businesses that have employee stock ownership plans in place. By treating employee-owned stock as outstanding, businesses will be able to reduce their tax liability on excess business holdings, ultimately encouraging more companies to implement employee stock ownership plans.

Overall, Bill 119 HR 2014 seeks to support and promote employee ownership in businesses, while also ensuring that private foundations are not unfairly penalized for holding excess business holdings. The bill aims to strike a balance between promoting employee ownership and maintaining tax compliance for private foundations.

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Current Status of Bill HR 2014

Bill HR 2014 is currently in the status of Bill Introduced since March 10, 2025. Bill HR 2014 was introduced during Congress 119 and was introduced to the House on March 10, 2025. Bill HR 2014's most recent activity was Referred to the House Committee on Ways and Means. as of March 10, 2025

Bipartisan Support of Bill HR 2014

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 2014

Primary Policy Focus

Alternate Title(s) of Bill HR 2014

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.

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Sponsors and Cosponsors of HR 2014

W. Gregory Steube

Florida(Republican)

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