Promotion and Expansion of Private Employee Ownership Act of 2025

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 3105 Introduced in House (IH)] <DOC> 119th CONGRESS 1st Session H. R. 3105 To amend the Internal Revenue Code of 1986 and the Small Business Act to expand the availability of employee stock ownership plans in S corporations, and for other purposes. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES April 30, 2025 Mr. Kelly of Pennsylvania (for himself, Mr. Panetta, Mr. Estes, Mr. Schneider, Mrs. Miller of West Virginia, Mr. Davis of Illinois, Mr. Moore of Utah, and Ms. Sewell) introduced the following bill; which was referred to the Committee on Ways and Means, and in addition to the Committees on Small Business, and Education and Workforce, 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 _______________________________________________________________________ A BILL To amend the Internal Revenue Code of 1986 and the Small Business Act to expand the availability of employee stock ownership plans in S corporations, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Promotion and Expansion of Private Employee Ownership Act of 2025''. SEC. 2. FINDINGS. Congress finds that-- (1) on January 1, 1998--nearly 25 years after the Employee Retirement Income Security Act of 1974 was enacted and the employee stock ownership plan (hereafter in this section referred to as an ``ESOP'') was created--employees were first permitted to be owners of subchapter S corporations pursuant to the Small Business Job Protection Act of 1996 (Public Law 104- 188); (2) with the passage of the Taxpayer Relief Act of 1997 (Public Law 105-34), Congress designed incentives to encourage businesses to become ES