S 1416 · in committee · niche
Reduction of Excess Business Holding Accrual Act
- taxes
What this bill does
- Stock repurchased by corporations from employee stock ownership plans is counted as outstanding voting stock for federal excise tax purposes on private foundations.
- Private foundations that own more than 20% of voting stock in corporations are affected by this change in how excess business holdings are calculated.
- The rule applies to stock repurchased after January 1, 2020, with exceptions for the first 10 years after an ESOP is established.
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Community Threads
Started by Cosponsor
- 01
How might this change in counting repurchased stock affect the tax burden on private foundations that hold significant corporate stakes?
- 02
What trade-offs exist between encouraging employee stock ownership plans and preventing private foundations from accumulating excess business holdings?
- 03
Why does the bill exempt ESOPs established within the past 10 years, and how does that timeline align with typical ESOP growth patterns?
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Sponsor · R-FL
Rick Scott
Citizen cosponsors
0
In Congress
0/ 100
Senators cosponsoring
Introduced 2025-04-10
Legislative timeline
2025-04-10 · senate · IntroReferral
Read twice and referred to the Committee on Finance.
2025-04-10 · IntroReferral
Introduced in Senate
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