H.R. 2014 seeks to amend the Internal Revenue Code of 1986 to address how private foundations handle excess business holdings, specifically regarding employee-owned stock. The bill proposes that any stock bought by a business from an employee stock ownership plan (ESOP) should be considered...
Simple Explanation
This bill wants to change the rules about how some special stocks that employees can own, called ESOPs, are counted for taxes. It says these stocks should count as normal stocks, but only if counting them doesn't make one group own too much of the company, and it won't count for very new ESOPs.