H. R. 8435 aims to modify the Internal Revenue Code of 1986 to classify certain price protection payments as eligible rollover distributions. This change affects payments made under employee stock ownership plans for plan years ending before January 1, 2025, and after...
Simple Explanation
H.R. 8435 wants to change some tax rules so that when people who have special stock plans at work leave their jobs, they can easily save certain payments in a different tax-friendly account. Also, it means that even if these plans seem to help bosses more than regular workers, it's okay by the law.