What is the official ID of this bill?

The official print number for this legislation is S 1300.

When did the legislative process begin?

The process officially started on 2021-04-22.

Where can I read the full text of this legislation?

The full official text is available at: https://www.congress.gov/117/bills/s1300/BILLS-117s1300is.htm

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-29.

Who is the primary sponsor?

The primary sponsor is Sen. Cardin, Benjamin L. [D-MD].

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Analysis and Potential Impact of S 1300

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.

Promoting Employee Stock Ownership in Small Businesses

Q: What are the main provisions?

Key points include: Tax deferral for certain sales of employer stock to employee stock ownership plans (ESOPs) in S-corporations, potentially boosting retirement savings. Establishment of a Treasury Department office to educate companies and individuals about the benefits of employee ownership. Companies with over 49% employee ownership will remain eligible for small business support programs.

This act aims to make it easier for employees to become co-owners of the companies they work for through special stock plans. This allows employees to build retirement savings and gain greater job stability. The changes primarily affect S-corporations and are designed to encourage the creation of such plans.

Key points

Tax deferral for certain sales of employer stock to employee stock ownership plans (ESOPs) in S-corporations, potentially boosting retirement savings.

Establishment of a Treasury Department office to educate companies and individuals about the benefits of employee ownership.

Companies with over 49% employee ownership will remain eligible for small business support programs.

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Additional Information

Promotion and Expansion of Private Employee Ownership Act of 2021

Print number: S 1300

Sponsor: Sen. Cardin, Benjamin L. [D-MD]

Process start date: 2021-04-22

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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Promoting Employee Stock Ownership in Small Businesses

Key Questions about Promoting Employee Stock Ownership in Small Businesses