Senate Bill 2758
117th Congress(2021-2022)
Stock Buyback Accountability Act of 2021
Introduced
Introduced in Senate on Sep 20, 2021
Origin Chamber
Senate
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
2758
Congress
117
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
No Senate votes have been held for this bill.
Summary
Stock Buyback Accountability Act of 2021
This bill imposes a 2% excise tax on the value of any stock of certain publicly-traded domestic and foreign corporations repurchased (i.e., redeemed) by such corporations. The bill allows exemptions from the tax for repurchases that are part of a reorganization, for repurchased stock that is contributed to an employer-sponsored retirement plan or employee stock ownership plan, for repurchased stock whose value does not exceed $1 million, and for repurchases treated as dividends.
September 20, 2021
09/20/2021
Read twice and referred to the Committee on Finance.
09/20/2021
Introduced in Senate
Public Record
Record Updated
Mar 8, 2023 8:12:14 PM