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Tax Changes for Private Foundations and Employee Stock Plans

This bill modifies tax rules for private foundations holding business interests. It makes it easier for companies to repurchase stock from employee stock ownership plans, potentially affecting the financial stability of these plans and benefits for employees.
Key points
Simplifies the process for companies to repurchase stock from Employee Stock Ownership Plans (ESOPs).
Changes how private foundations' excess business holdings are calculated, potentially reducing their tax burden.
Stock repurchased by a company from an employee plan will be treated as still outstanding, impacting foundation ownership limits.
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Status:
Expired
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Additional Information
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.
Print number: HR 2207
Sponsor: Rep. Diaz-Balart, Mario [R-FL-25]
Process start date: 2021-03-26
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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Summary & Status

Key Questions about Tax Changes for Private Foundations and Employee Stock Plans

A structured overview of the legislative process, official sources, status and civic context.

What is the official ID of this bill?

The official print number for this legislation is HR 2207.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-03-26.

What are the main provisions?

Key points include:

  • Simplifies the process for companies to repurchase stock from Employee Stock Ownership Plans (ESOPs).
  • Changes how private foundations' excess business holdings are calculated, potentially reducing their tax burden.
  • Stock repurchased by a company from an employee plan will be treated as still outstanding, impacting foundation ownership limits.

What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Diaz-Balart, Mario [R-FL-25].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-27.

Analysis and Potential Impact of HR 2207

We don't know, that is up to you to decide. Summarizing raw data with AI is fundamentally different from predicting socio-economic outcomes. As of 2026, we believe impact assessment strictly requires a human in the loop to verify and judge. Review our public AI processing logs for full transparency, and use Lustra to track active legislation for instant status push notifications.

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