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Tax Changes for Private Foundations: Employee Stock Ownership Facilitation.

This act modifies tax rules for private foundations holding business interests. It aims to make it easier for companies to repurchase shares from employee stock ownership plans, potentially impacting the financial stability of these plans and businesses. These changes may indirectly support employee stock programs.
Key points
Facilitates companies repurchasing shares from employee stock ownership plans without negative tax consequences for private foundations.
Shares repurchased by a company from employees will be treated as still outstanding, helping foundations avoid additional taxes.
Changes apply to transactions from January 1, 2020, and take effect upon enactment of the act.
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Introduced
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Additional Information
Print number: 119_HR_2014
Sponsor: Rep. Steube, W. Gregory [R-FL-17]
Process start date: 2025-03-10
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Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Reduction of Excess Business Holding Accrual Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_2014.

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 2025-03-10.

What are the main provisions?

Key points include:

  • Facilitates companies repurchasing shares from employee stock ownership plans without negative tax consequences for private foundations.
  • Shares repurchased by a company from employees will be treated as still outstanding, helping foundations avoid additional taxes.
  • Changes apply to transactions from January 1, 2020, and take effect upon enactment of the act.
What is the specific legal status?

The current status is Introduced.

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. Steube, W. Gregory [R-FL-17].

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 2025-12-22.

CATEGORIES

Taxes Labor