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(This measure has not been amended since it was reported to the House on September 16, 2016. The summary of that version is repeated here.)
Empowering Employees through Stock Ownership Act
(Sec. 2) This bill amends the Internal Revenue Code to allow an employee to elect to defer, for income tax purposes, income attributable to certain stock transferred to the employee by an employer.
The employee may defer the inclusion of income from the stock until the year that includes the earliest of the dates on which:
the stock becomes transferable;
The stock must meet specified requirements and be transferred to the employee from an eligible corporation in connection with the performance of services as an employee.
A corporation is eligible if: (1) no stock of the corporation or a predecessor of the corporation is readily tradable on an established securities market during any preceding calendar year, and (2) it has a written plan under which at least 80% of all employees who provide services to the corporation in the United States (or a U.S. possession) are granted stock options, or restricted stock units, with the same rights and privileges to receive qualified stock.
Employees are excluded if they: (1) are a 1% owner, the chief executive officer, or the chief financial officer of the corporation or have been at any time during the 10 preceding calendar years; (2) are a family member of the specified individuals; or (3) have been one of the four highest compensated officers of the corporation during any of the 10 preceding taxable years.
The corporation transferring stock must notify employees regarding the option of deferring income and meet specified withholding and reporting requirements.
Written by the nonpartisan Congressional Research Service, describing H.R. 5719 as passed House amended on Sep 22, 2016. It is not the text of the measure; a later amendment may have changed what it does.
House Sep 22, 2016
Empowering Employees through Stock Ownership Act
Passed
287 Yea 124 Nay 20 not voting
Crossed both parties 56 of 411 voting members broke with their own party: 55 Democrats, 1 Republican.
DemocratsRepublicansFilled: YeaRing: NayGrey: not voting or present
431 members on this roll call, from the official House record. Party majorities need at least five voting members, so an independent never counts as breaking with a party.
Signing on is not a vote: a member can cosponsor H.R. 5719 and vote against it. 0 signed when it was filed.
Organizations that named H.R. 5719 in a lobbying disclosure. Only those that cited the bill by number appear, so this is a floor, not a full list.
12 disclosures name this measure. Retrieved from LDA.gov on 2026-10-05. Senate Office of Public Records cannot vouch for the data or analyses derived from these data after the data have been retrieved from LDA.gov.