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Summary of Provisions of S. 1612, the ESOP Promotion and Improvement Act of 2009 (PDF)
The ESOP Association 
Aug. 10, 2009
1 page. Excerpt: [Two provisions are as follows:] S. 1612 would repeal the punitive 10% penalty tax on S corporations distributions from current earnings, also referred to as dividends, placed on the distributions from current earnings that are passed through to ESOP participants in cash. S. 1612 would clarify that dividends paid by C corporations on ESOP stock are not a preference item in calculating the corporate alternative minimum tax.
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