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Promoting Employee Stock Ownership in Small Businesses

This act aims to make it easier for employees to become co-owners of the companies they work for through special stock plans. This helps employees build retirement savings and gain greater job stability. The changes primarily involve tax benefits and small business qualification rules.
Key points
Easier tax deferral for selling company stock to an employee stock ownership plan (ESOP).
Allows deduction of interest on loans used by an ESOP to purchase company stock.
Companies with an ESOP will continue to qualify as small businesses, maintaining access to support.
Establishes a Treasury Department office to educate and assist companies in forming ESOPs.
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Expired
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Additional Information
Print number: 117_HR_4141
Sponsor: Rep. Kind, Ron [D-WI-3]
Process start date: 2021-06-24
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Promotion and Expansion of Private Employee Ownership Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_4141.

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 2021-06-24.

What are the main provisions?

Key points include:

  • Easier tax deferral for selling company stock to an employee stock ownership plan (ESOP).
  • Allows deduction of interest on loans used by an ESOP to purchase company stock.
  • Companies with an ESOP will continue to qualify as small businesses, maintaining access to support.
  • Establishes a Treasury Department office to educate and assist companies in forming ESOPs.
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. Kind, Ron [D-WI-3].

What is the latest detailed status?

The latest detailed status is: Introduced in House

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-28.

CATEGORIES

Taxes Labor Economy