United States 116th Congress Status: In Committee Bipartisan · 4 R · 3 D cosponsors

HR 5851 — 2019 ESOP Fairness Act

Last action — Referred to the House Committee on Ways and Means.

  1. ✓
    Introduced
  2. 2
    In Committee
  3. 3
    Passed House
  4. 4
    Passed Senate
  5. 5
    To Executive
  6. 6
    Enacted

This bill died with 116th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.

This bill is no longer active — its legislative session has ended, so there are no live odds of enactment. It would have to be reintroduced in the current session to move again.

In plain language

This bill allows certain over-the-counter securities to count as publicly traded for employee stock ownership plans.

The 2019 ESOP Fairness Act amends the Internal Revenue Code to treat certain qualified over-the-counter securities as publicly traded. This change affects the diversification requirements for employee stock ownership plans (ESOPs).

Summary

2019 ESOP Fairness Act This bill allows certain over-the-counter securities to be treated as publicly traded employer securities for purposes of the diversification requirements for employee stock ownership plans (ESOPs).

Bill Text

Action History

  1. Introduced in House

  2. Introduced in House

  3. Referred to the House Committee on Ways and Means.

Sponsors

Sponsorship breakdown

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1 sponsors · 6 co-sponsors · 540 not signed on

Sponsors (1)

Co-sponsors (6)

Not signed on (540)

540 members have not signed on to this bill.

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"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.

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Subjects

taxation
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Frequently asked questions

What does HR 5851 do?
2019 ESOP Fairness Act This bill allows certain over-the-counter securities to be treated as publicly traded employer securities for purposes of the diversification requirements for employee stock ownership plans (ESOPs).
Who sponsors HR 5851?
HR 5851 is sponsored by Higgins, Brian (Democratic), Kelly, Mike (Republican), Buchanan, Vern (Republican), Sánchez, Linda T. (Democratic), Walorski, Jackie (Republican), Pascrell, Bill (Democratic), and LaHood, Darin (Republican).
What is the current status of HR 5851?
This bill died with 116th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
Where can I track HR 5851?
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Last checked for changes 3 months ago · updated continuously

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