PlainBillCongress, translated.Legislation. Context. Public interest.Referred to the Subcommittee on Health, Employment, Labor, and Pensions.
Congressional Research Service
Version 00 · Introduced in House · Mar 29, 2011
Promotion and Expansion of Private Employee Ownership Act of 2011 - Amends the Internal Revenue Code to: (1) extend to all domestic corporations, including S corporations, provisions allowing deferral of tax on gain from the sale of employer securities to an S corporation-sponsored employer stock ownership plan (ESOP); and (2) allow a tax deduction for 50% of the interest incurred on loans to S corporation-sponsored ESOPs for the purchase of employer securities.
Directs the Secretary of the Treasury to establish the S Corporation Employee Ownership Assistance Office to foster increased employee ownership of S corporations.
Amends the Small Business Act to define "ESOP business concern" and allow such a concern to continue to qualify for loans, preferences, and other programs under such Act.
People & committees
Rep. Reichert, David G. [R-WA-8] · R–WA
Legislative record
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Referred to the Subcommittee on Health, Employment, Labor, and Pensions.
Referred to the Committee on Ways and Means, and in addition to the Committees on Education and the Workforce, and Small Business, 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.
Referred to the Committee on Ways and Means, and in addition to the Committees on Education and the Workforce, and Small Business, 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.
Referred to the Committee on Ways and Means, and in addition to the Committees on Education and the Workforce, and Small Business, 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.
Introduced in House
Introduced in House
Primary sources
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Source last updated: Mar 23, 2026. Consult Congress.gov for the current record.
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