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Tax Changes for Private Foundations and Employee Stock Plans

This bill amends tax rules for private foundations' excess business holdings. It allows companies that repurchase stock from employee stock ownership retirement plans to treat that stock as still outstanding, potentially helping foundations avoid additional taxes. The aim is to simplify the management of employee-owned stock without negative tax consequences for foundations.
Key points
Companies repurchasing stock from employee retirement plans can treat it as outstanding, affecting foundation holding calculations.
The change applies to stock purchased since 2005 and to tax years ending after the bill's enactment.
New rules may help private foundations avoid tax penalties related to excess business holdings if those holdings stem from repurchased employee stock.
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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 3152
Sponsor: Rep. Kildee, Daniel T. [D-MI-5]
Process start date: 2021-05-12
System Note: Lustra is free, publicly auditable civic infrastructure, with full source code available on GitHub. You are reading sterilized legislative data, processed by our radical neutrality engine to strip political spin and retain factual mechanics. We process only official government data. Original documents remain the authoritative source, always verify them if you can.
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 3152.

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 2021-05-12.

What are the main provisions?

Key points include:

  • Companies repurchasing stock from employee retirement plans can treat it as outstanding, affecting foundation holding calculations.
  • The change applies to stock purchased since 2005 and to tax years ending after the bill's enactment.
  • New rules may help private foundations avoid tax penalties related to excess business holdings if those holdings stem from repurchased employee stock.

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. Kildee, Daniel T. [D-MI-5].

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 3152

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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