TAILIEUCHUNG - IN THE HOUSE OF REPRESENTATIVES - JULY 26, 2002

In terms of numbers also, in roughly half of the companies, promoters have a majority stake. The incidence of majority promoter ownership is more prevalent in case of large companies with more than Rs. 50 crores market capitalisation (Table- VI). Promoter’s stake, however, need not always be held by the promoters themselves in their personal capacity. It could be provided by other companies controlled by the group, some of which could be listed companies themselves. Such investments while lessening the risk borne by the promoters enable them exercise disproportionately greater control over the companies involved | AUTHENTICATED . GOVERNMENT INFORMATION GPỌ I 107th congress f 2 H. R. 5242 To amend the Internal Revenue Code of 1986 to encourage the granting of employee stock options. IN THE HOUSE OF REPRESENTATIVES July 26 2002 Mr. Houghton for himself and Mr. Boehner introduced the following bill which was referred to the Committee on Ways and Means A BILL To amend the Internal Revenue Code of 1986 to encourage the granting of employee stock options. 1 Be it enacted by the Senate and House of Representa- 2 tives of the United States of America in Congress assembled 3 SECTION 1. SHORT TITLE. 4 This Act may be cited as the Workplace Employee 5 Stock Option Act of 2002 . 6 SEC. 2. INCENTIVES TO GRANT EMPLOYEE STOCK OP- 7 TIONS. 8 a In General. Section 423 of the Internal Rev- 9 enue Code of 1986 relating to employee stock purchase 2 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 plans is amended by adding at the end the following new subsection d Special Incentives With Respect to Employee Stock Purchase Plans Which Meet Certain Additional Requirements. 1 In general. If A section 421 a would but for this subsection apply with respect to the transfer of stock to an individual by reason of this section and B the requirements of paragraph 2 are met with respect to such transfer the rules of paragraph 3 shall apply in lieu of the rules of section 421 a and section 56 b 3 shall not apply. 2 Requirements. a transfer of stock to an individual meets the requirements of this paragraph if A the price paid by the individual for the stock under the option is paid only through payroll deductions in substantially equal amounts over a period of not less than 12 months and not more than 60 months B such payroll deductions are held in a trust described in paragraph 5 HR 5242 IH 3 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 C the price of the stock acquired under the option is not less than the fair market value of the stock at the time the option is granted

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