; and (8) it is the goal of Congress to both preserve and foster employee ownership of S corporations through ESOPs. 3. Full deferral of tax for certain sales of employer stock to employee stock ownership plan sponsored by S corporation (a) Acceleration of deferral Section 114(c) of the SECURE 2.0 Act of 2022 is amended by striking December 31, 2027 and inserting the date of the enactment of the Promotion and Expansion of Private Employee Ownership Act of 2023 . (b) Repeal of limitation (1) In general Section 1042 of the Internal Revenue Code of 1986, as amended by section 114 of the SECURE 2.0 Act of 2022, is amended by striking subsection (h). (2) Effective date The amendment made by paragraph (1) shall apply to sales after the date of the enactment of this Act. 4. Department of the Treasury Technical Assistance Office (a) Establishment required Before the end of the 90-day period beginning on the date of enactment of this Act, the Secretary of the Treasury shall establish the S Corporation Employee Ownership Assistance Office to foster increased employee ownership of S corporations. (b) Duties of the office The S Corporation Employee Ownership Assistance Office shall provide— (1) education and outreach to inform companies and individuals about the possibilities and benefits of employee ownership of S corporations; and (2) technical assistance to assist S corporations in sponsoring employee stock ownership plans. 5. Small business and employee stock ownership (a) In general The Small Business Act ( 15 U.S.C. 631 et seq. ) is amended— (1) by redesignating section 49 as section 50; and (2) by inserting after section 48 the following: 49. Employee stock ownership plans (a) Definitions In this section— (1) the term ESOP means an employee stock ownership plan, as defined in section 4975(e)(7) of the Internal Revenue Code of 1986