S 3270
2020 ESOP Fairness Act
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
This bill, the 2020 ESOP Fairness Act, amends tax law to allow certain over-the-counter securities to be considered ‘publicly traded’ for the purpose of employee stock ownership plan (ESOP) diversification rules. Currently, these securities face stricter diversification requirements, limiting ESOP investment options. The bill aims to broaden the types of securities eligible for ESOP investment by establishing specific criteria for determining if a security is readily traded on a securities market. This change is intended to increase investment opportunities for ESOPs.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Thomas Tillis
Cosponsors
Kyrsten Sinema
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