To amend the Internal Revenue Code of 1986 and the Small Business Act to expand the availability of employee stock ownership plans in S corporations, and for other purposes.
Analysis under review: This bill has generated analysis that may be too generic or incomplete. Clause-level evidence remains available below.
Summary
What This Bill Does
This bill, To amend the Internal Revenue Code of 1986 and the Small Business Act to expand the availability of employee stock ownership plans in S corporations, and for other purposes., changes federal law or congressional policy affecting federal agencies and legislative administrators. The main policy domain is Government Operations, Finance, Labor.
Who Benefits and How
federal agencies and legislative administrators may benefit from new authority, funding, eligibility, regulatory clarity, or reduced risk created by the bill.
Who Bears the Burden and How
federal implementing agencies may take on implementation duties, reporting obligations, compliance costs, or oversight responsibilities.
Key Provisions
- Section H4BC23DC6227548D0BA03DC0F1D26E2D6: 1. Short title This Act may be cited as the Promotion and Expansion of Private Employee Ownership Act of 2023.
- Section H41D4C146D03D40BFAD729BD7562510E0: 2. Findings Congress finds that— on January 1, 1998—nearly 25 years after the Employee Retirement Income Security Act of 1974 was enacted and the employee...
- Section HBA76D698EA734A0C83B93B71806B96A2: 3. Full deferral of tax for certain sales of employer stock to employee stock ownership plan sponsored by S corporation Section 114(c) of the SECURE 2.0 Act of...
- Section H4E688FDEB2E74855BD9F8ECE37A5F803: 4. Department of the Treasury Technical Assistance Office Before the end of the 90-day period beginning on the date of enactment of this Act, the Secretary of...
- Section H2FF831D685D8497E8521A4B51DF70C29: 5. Small business and employee stock ownership The Small Business Act (15 U.S.C. 631 et seq.) is amended— by redesignating section 49 as section 50; and by...
Evidence Chain:
This summary is generated from the full bill text using AI analysis. Expand "Detailed Analysis" below for identified beneficiaries/burden bearers with clause-level evidence links.
At a Glance
What This Bill Does
This bill, To amend the Internal Revenue Code of 1986 and the Small Business Act to expand the availability of employee stock ownership plans in S corporations, and for other purposes., changes federal law or congressional policy affecting federal agencies and legislative administrators.
Key Policy Areas
Government Operations, Finance, Labor
Primary Purpose
This bill, To amend the Internal Revenue Code of 1986 and the Small Business Act to expand the availability of employee stock ownership plans in S corporations, and for other purposes., changes federal law or congressional policy affecting federal agencies and legislative administrators.
Policy Domains
Whole bill
Identified Gains
- federal agencies and legislative administrators
Identified Costs
- federal implementing agencies
Sponsors
Legislative Progress
IntroducedMr. Kelly of Pennsylvania (for himself, Mr. Blumenauer, Mr. Wenstrup, …
Impact analysis is available but no clear stakeholder effects identified. View clause-level analysis →
Bill Structure & Actor Mappings
Who is "The Secretary" in each section?
- "secretary_of_labor"
- → Secretary of Labor
- "administrator_of_sba"
- → Administrator of the Small Business Administration
- "secretary_of_commerce"
- → Secretary of Commerce
- "secretary_of_treasury"
- → Secretary of the Treasury
Key Definitions
Terms defined in this bill
an employee stock ownership plan, as defined in section 4975(e)(7) of the Internal Revenue Code of 1986
an employee stock ownership plan, as defined in section 4975(e)(7) of the Internal Revenue Code of 1986
We use a combination of our own taxonomy and classification in addition to large language models to assess meaning and potential beneficiaries. High confidence means strong textual evidence. Always verify with the original bill text.
Learn more about our methodology