House Resolution 1244, the Promotion and Expansion of Private Employee Ownership Act of 2011, was introduced by a bi-partisan group of key members of the House Ways and Means Committee. H.R. 1244 has four main objectives:
Permits owners of S stock to sell the stock to an ESOP and defer the capital gains tax on his/her gain if the proceeds are reinvested in the equities of U.S. operating corporations
Permits lenders to S corporations with 50% or more ESOP ownership to exclude ...