legislation: 116-hr-8606

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bill_id congress bill_type bill_number title policy_area introduced_date latest_action_date latest_action_text origin_chamber sponsor_name sponsor_state sponsor_party sponsor_bioguide_id cosponsor_count summary_text update_date url
116-hr-8606 116 hr 8606 To defer the tax of certain sales of employer stock and reduce certain retirement-related excise taxes, and for other purposes. Taxation 2020-10-16 2020-10-16 Referred to the Committee on Ways and Means, and in addition to the Committee on Education and Labor, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. House Rep. Kind, Ron [D-WI-3] WI D K000188 2 This bill extends to all domestic corporations (including S corporations) the deferral of tax on certain sales of employer stock to employee stock ownership plans (ESOPs) and reduces certain retirement-related excise taxes. Specifically, the bill reduces excise tax rates of certain excess accumulations in tax-exempt retirement plans and on failures to take required minimum distributions from such plans. It also allows employers who establish a tax-exempt 403(b) pension plan to participate in a multiple employer plan. The bill extends the tax credit for small employer pension plan startup costs to employers that join an existing plan. 2023-01-11T13:44:31Z https://www.congress.gov/bill/116th-congress/house-bill/8606

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