I 116th CONGRESS 2d Session H. R. 7244 IN THE HOUSE OF REPRESENTATIVES June 18, 2020 Mr. Diaz-Balart (for himself and Mr. Kildee ) introduced the following bill; which was referred to the Committee on Ways and Means 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.