II 115th CONGRESS 1st Session S. 1618 IN THE SENATE OF THE UNITED STATES July 24, 2017 Ms. Stabenow introduced the following bill; which was read twice and referred to the Committee on Finance A BILL 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.