,i  #aai? ,,congress  #a/ ,session  ,h4 
,r4 #bjad  ,,9 ,,! ,,h\se ,,(           
,,repres5tatives  ,m>* #aj1 #bjbe,mr4   
,/eube introduc$ ! foll[+ bill2 :i* 0   
ref]r$ to ! ,committee on ,ways & ,means
  ,a ,,bill  ,to am5d ! ,int]nal ,rev5ue
 ,code ( #aihf = purposes ( ! tax on    
private f\ndation excess bus9ess hold+s 
to treat z out/&+ any employee-own$ /ock
 pur*as$ by a bus9ess ent]prise pursuant
 to c]ta9 employee /ock own]%ip         
retirem5t plans4  #a4 ,%ort title ,?is  
,act may be cit$ z ! ,r$uction ( ,excess
 ,bus9ess ,hold+ ,accrual ,act4  #b4    
,c]ta9 pur*ases ( employee-own$ /ock    
disreg>d$ = purposes ( f\ndation tax on 
excess bus9ess hold+s  7a7 ,9 g5]al     
,section #didc7;c77#d77;,a7 ( ! ,int]nal
 ,rev5ue ,code ( #aihf is am5d$ by add+ 
at ! end ! foll[+ new clauses3  7v7 ,=  
purposes ( clause 7i71 subp>agraph 7,d71
 & p>agraph 7#b71 any vot+ /ock :i*--   
7,i7 is n readily tradable on an        
e/abli%$ securities m>ket1  7,,ii7 is   
pur*as$ by ! bus9ess ent]prise on or    

aft] ,janu>y #a1 #bjbj1 f an employee   
/ock own]%ip plan 7z def9$ 9 section    
#dige7;e77#g77 9 :i* employees ( su*    
bus9ess ent]prise p>ticipate1 9         
connection ) a di/ribution f su* plan1 &
  7,,iii7 is held by ! bus9ess ent]prise
 z treasury /ock1 cancell$1 or retir$1  
%all be treat$ z out/&+ vot+ /ock1 b    
only to ! ext5t s treat+ su* /ock w\ld n
 result 9 p]mitt$ hold+s exce$+ #di     
p]c5t 7det]m9$ )\t reg>d to ?is clause74
 ,! prec$+ s5t5ce %all n apply ) respect
 to ! pur*ase ( /ock f a plan dur+ !    
#aj-ye> p]iod beg9n+ on ! date ! plan is
 e/abli%$4  7vi7 ,section               
#didc7;c77#d77;,a77ii7 %all n apply )   
respect to any decrease 9 ! p]c5tage (  
hold+s 9 a bus9ess ent]prise by reason (
 ! application ( clause 7v74  4  7b7    
,effective date ,! am5dm5ts made by ?is 
section %all apply to taxable ye>s end+ 
aft] ! date ( ! enactm5t ( ?is ,act & to
 pur*ases by a bus9ess ent]prise ( vot+ 
/ock 9 taxable ye>s beg9n+ aft] ,decemb]
 #ca1 #bjai4