Rep. Holding Introduces Bill to Amend Internal Revenue Code of 1986

WASHINGTON, May 4 -- Rep. George Holding, R-N.C., has introduced legislation (H.R. 2293) to amend the Internal Revenue Code of 1986 "for purposes of the tax on private foundation excess business holdings to treat as outstanding any employee-owned stock purchased by a business enterprise pursuant to certain employee stock ownership retirement plans."

The bill was introduced on May 2 and was co-sponsored by Rep. Sander M. Levin, D-Mich. It was referred to the House Ways and Means Committee.

For more information about this legislation, contact Rep. George Holding in Washington at 1110 Longworth House Office Building, Washington, DC 20515; 202/225-3032; or in the district offices at 120 Main St., Fremont, NC 27830; 919/440-5247; 3725 National Drive, Ste. 101, Raleigh, NC 27612; 919/782-4400.

Myron Struck, editor, Targeted News Service, Springfield, Va., 703/304-1897; editor@targetednews.com; http://www.targetednews.com