Sen. Stabenow Introduces Bill to Amend Internal Revenue Code of 1986

WASHINGTON, July 26 -- Sen. Debbie Stabenow, D-Mich., has introduced legislation (S. 1618) 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 July 24. It was referred to the Senate Finance Committee.

For more information about this legislation, contact Sen. Debbie Stabenow in Washington at 731 Hart Senate Office Building, Washington, DC 20510-2204; 202/224-4822; or in the state offices at 15 Lee St., Ste. 208, Montgomery, AL 36104; 334/223-7303; 3335 S. Airport Road W., Ste. 6-B, Traverse City, MI 49684; 231/929-1031; 1901 W. Ridge, Ste. 7, Marquette, MI 49855; 906/228-8756; 221 W. Lake Lansing Road, Ste. 100, East Lansing, MI 48823; 517/203-1760.

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