Empowering Employees through Stock Ownership Act
Do you support it?
Want to know if it passes?
We'll email you when HR 5719 moves — a committee vote, a floor vote, or a signature. Nothing else.
Free forever · unsubscribe in one click.
Your answer was recorded either way.
Which district are you in?
Your ZIP is all we need to match you to your own representatives — so we can tell you how they voted on HR 5719.
You're tracking HR 5719
We'll email you the moment it moves.
HR 5719 — Empowering Employees through Stock Ownership Act
Last action — Received in the Senate.
No card. One bill, free forever — alerts when it moves.
-
✓Introduced
-
Died in session
This bill died with 114th Congress. It reached “Introduced” 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This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.
Summary
Empowering Employees through Stock Ownership Act (Sec. 2) This bill amends the Internal Revenue Code to allow an employee to elect to defer, for income tax purposes, income attributable to certain stock transferred to the employee by an employer. The employee may defer the inclusion of income from the stock until the year that includes the earliest of the dates on which: the stock becomes transferable; the employee becomes an excluded employee; stock of the corporation becomes readily tradable on an established securities market; seven years have passed after the rights of the employee in the stock are transferable or are not subject to a substantial risk of forfeiture, whichever occurs earlier; or the employee revokes the election with respect to the stock. The stock must meet specified requirements and be transferred to the employee from an eligible corporation in connection with the performance of services as an employee. A corporation is eligible if: (1) no stock of the corporation or a predecessor of the corporation is readily tradable on an established securities market during any preceding calendar year, and (2) it has a written plan under which at least 80% of all employees who provide services to the corporation in the United States (or a U.S. possession) are granted stock options, or restricted stock units, with the same rights and privileges to receive qualified stock. Employees are excluded if they: (1) are a 1% owner, the chief executive officer, or the chief financial officer of the corporation or have been at any time during the 10 preceding calendar years; (2) are a family member of the specified individuals; or (3) have been one of the four highest compensated officers of the corporation during any of the 10 preceding taxable years. The corporation transferring stock must notify employees regarding the option of deferring income and meet specified withholding and reporting requirements.
Bill Text
We don't have the full text on file for this bill yet.
Read HR 5719 on the official United States source →Action History
-
Received in the Senate.
-
Motion to reconsider laid on the table Agreed to without objection.
-
On passage Passed by the Yeas and Nays: 287 - 124 (Roll no. 544). (text of amendment in the nature of a substitute: CR H5822-5824)
-
Considered as unfinished business. (consideration: CR H5719-5835)
-
POSTPONED PROCEEDINGS - At the conclusion of debate on H.R. 5719, the Chair put the question on passage and by voice vote, announced that the ayes had prevailed. Mr. Crowley demanded the yeas and nays and the Chair postponed further proceedings on passage of the bill until a time to be announced.
-
The previous question was ordered pursuant to the rule. (consideration: CR H5829)
-
DEBATE - The House proceeded with one hour of debate on H.R. 5719.
-
Rule provides for consideration of H.R. 3438 and H.R. 5719. The resolution provides for one hour of general debate on H.R. 3438 and H.R. 5719. The resolution provides that it shall be in order at any time on the legislative day of September 22, 2016 or September 23, 2016, for the Speaker to entertain motions that the House suspend the rules.
-
Considered under the provisions of rule H. Res. 875. (consideration: CR H5822-5830)
-
Rule H. Res. 875 passed House.
-
Rules Committee Resolution H. Res. 875 Reported to House. Rule provides for consideration of H.R. 3438 and H.R. 5719. The resolution provides for one hour of general debate on H.R. 3438 and H.R. 5719. The resolution provides that it shall be in order at any time on the legislative day of September 22, 2016 or September 23, 2016, for the Speaker to entertain motions that the House suspend the rules.
-
Placed on the Union Calendar, Calendar No. 581.
-
Reported (Amended) by the Committee on Ways and Means. H. Rept. 114-748.
-
Ordered to be Reported (Amended) by Voice Vote.
-
Committee Consideration and Mark-up Session Held.
-
Referred to the House Committee on Ways and Means.
-
Introduced in House
Sponsors
- Erik Paulsen · Primary
Sponsorship breakdown
Export CSV (upgrade) →1 sponsors · 0 co-sponsors · 546 not signed on
Sponsors (1)
Co-sponsors (0)
None.
Not signed on (546)
546 members have not signed on to this bill.
Show all 546 →"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.
Subjects
Frequently asked questions
- What does HR 5719 do?
- Empowering Employees through Stock Ownership Act (Sec. 2) This bill amends the Internal Revenue Code to allow an employee to elect to defer, for income tax purposes, income attributable to certain stock transferred to the employee by an employer. The employee may defer the inclusion of income from the stock until the year that includes the earliest of the dates on which: the stock becomes transferable; the employee becomes an excluded employee; stock of the corporation becomes readily tradable on an established securities market; seven years have passed after the rights of the employee in the stock are transferable or are not subject to a substantial risk of forfeiture, whichever occurs earlier; or the employee revokes the election with respect to the stock. The stock must meet specified requirements and be transferred to the employee from an eligible corporation in connection with the performance of services as an employee. A corporation is eligible if: (1) no stock of the corporation or a predecessor of the corporation is readily tradable on an established securities market during any preceding calendar year, and (2) it has a written plan under which at least 80% of all employees who provide services to the corporation in the United States (or a U.S. possession) are granted stock options, or restricted stock units, with the same rights and privileges to receive qualified stock. Employees are excluded if they: (1) are a 1% owner, the chief executive officer, or the chief financial officer of the corporation or have been at any time during the 10 preceding calendar years; (2) are a family member of the specified individuals; or (3) have been one of the four highest compensated officers of the corporation during any of the 10 preceding taxable years. The corporation transferring stock must notify employees regarding the option of deferring income and meet specified withholding and reporting requirements.
- Who sponsors HR 5719?
- HR 5719 is sponsored by Erik Paulsen (R).
- What is the current status of HR 5719?
- This bill died with 114th Congress. It reached “Introduced” 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 5719?
- Track HR 5719 free on One Click Politics — get push/email alerts when it moves.
Make your voice heard on HR 5719
Find the representatives who decide this bill and tell them where you stand — for yourself, or mobilize your whole list in one click with One Click Politics advocacy software.
Stay ahead of HR 5719
Last checked for changes about 15 hours ago · updated continuously
One Click Politics tracks every bill in Congress and all 50 states.
Track this bill →