We don’t have a summary available yet.
The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Sep 20, 2021.
Stock Buyback Accountability Act of 2021
This bill imposes a 2% excise tax on the value of any stock of certain publicly-traded domestic and foreign corporations repurchased (i.e., redeemed) by such corporations. The bill allows exemptions from the tax for repurchases that are part of a reorganization, for repurchased stock that is contributed to an employer-sponsored retirement plan or employee stock ownership plan, for repurchased stock whose value does not exceed $1 million, and for repurchases treated as dividends.