,,ii  #aahth ,,congress  #ast ,session  
,s4 #dac  ,,in ,,the ,,senate ,,of ,,the
 ,,united ,,states  ,february #ad1      
#bjbc,mr4 ,brown 7for himself1 ,mr4     
,wyden1 ,mr4 ,schatz1 ,mr4 ,van ,hollen1
 ,mr4 ,reed1 ,mr4 ,lujn1 and ,ms4       
,baldwin7 introduced the following bill2
 which was read twice and referred to   
the ,committee on ,finance  ,a ,,bill   
,to amend the ,internal ,revenue ,code  
of #aihf to increase the rate of the    
excise tax on the repurchase of         
corporate stock1 and for other purposes4
  #a4 ,short title ,this ,act may be    
cited as the ,stock ,buyback            
,accountability ,act of #bjbc4  #b4     
,modifications to tax on repurchase of  
corporate stock  7a7 ,increase in rate  
of tax ,section #deja7;a7 of the        
,internal ,revenue ,code of #aihf is    
amended by striking #a percent and      
inserting #d percent4  7b7 ,modification
 of adjustments ,section #deja7;c77#c7  
of the ,internal ,revenue ,code of #aihf
 is amended-- 7#a7 by striking ,the     

amount and inserting the following3     
7,a7 ,in general ,the amount  1 and     
7#b7 by adding at the end the following 
new subparagraph3  7,b7 ,exception for  
stock issued to covered employees       
,subparagraph 7,a7 shall not apply to so
 much of the fair market value of any   
stock issued or provided to an employee 
who is a covered employee 7within the   
meaning of section #afb7m77#c774  4  7c7
 ,effective date  7#a7 ,rate ,the       
amendment made by subsection 7a7 section
 shall apply to repurchases 7within the 
meaning of section #deja7;c7 of the     
,internal ,revenue ,code of #aihf7 of   
stock after the date of the enactment of
 this ,act4  7#b7 ,adjustments ,the     
amendments made by subsection 7b7 shall 
apply to stock issued or provided after 
the date of the enactment of this ,act1 
in taxable years ending after such date4