In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.

Ex Input:
SECTION 1. EXPENSES FOR HOUSEHOLD AND ELDER CARE SERVICES NECESSARY FOR
GAINFUL EMPLOYMENT.

(a) In General.--Subpart A of part IV of subchapter A of chapter 1
of the Internal Revenue Code of 1986 is amended by adding at the end
the following new section:

''SEC. 25E. EXPENSES FOR HOUSEHOLD AND ELDER CARE SERVICES NECESSARY
FOR GAINFUL EMPLOYMENT.

''(a) Allowance of Credit.--
''(1) In general.--In the case of an individual for which
there are 1 or more qualifying individuals (as defined in
subsection (b)(1)) with respect to such individual, there shall
be allowed as a credit against the tax imposed by this chapter
for the taxable year an amount equal to the applicable
percentage of the employment-related expenses (as defined in
subsection (b)(2)) paid by such individual during the taxable
year.
''(2) Applicable percentage defined.--For purposes of
paragraph (1), the term 'applicable percentage' means 35
percent reduced (but not below 20 percent) by 1 percentage
point for each $2,000 (or fraction thereof) by which the
taxpayer's adjusted gross income for the taxable year exceeds
$15,000.
''(b) Definitions of Qualifying Individual and Employment-Related
Expenses.--For purposes of this section--
''(1) Qualifying individual.--The term 'qualifying
individual' means an individual who--
''(A) has attained age 50, and
''(B) is one of the following:
''(i) An individual who bears a
relationship to the taxpayer described in
subparagraph (C) or (D) of section 152(d)(2)
(relating to fathers, mothers, and ancestors).
''(ii) An individual would be a dependent
of the taxpayer (as defined in section 152,
determined without regard to subsections (b)(1)
and (b)(2)) as a qualifying relative described
in section 152(d)(1) if--
''(I) in lieu of subparagraphs (B)
and (C) thereof the following applied
with respect to the individual:
''(aa) the taxpayer has
provided over one-half of the
individual's support for the
calendar year in which such
taxable year begins and each of
the preceding 4 taxable years,
and
''(bb) the individual's
modified adjusted gross income
for the calendar year in which
such taxable year begins is
less than the exemption amount
(as defined in section 151(d)),
''(II) the individual is physically
or mentally incapable of caring for
himself or herself, and
''(III) who has the same principal
place of abode as the taxpayer for more
than one-half of such taxable year.
''(iii) The spouse of the taxpayer who is
physically or mentally incapable of caring for
himself or herself.
''(2) Modified adjusted gross income.--The term 'modified
adjusted gross income' means adjusted gross income determined
without regard to section 86.
''(3) Employment-related expenses.--
''(A) In general.--The term 'employment-related
expenses' means amounts paid for the following
expenses, but only if such expenses are incurred to
enable the taxpayer to be gainfully employed for any
period for which there are 1 or more qualifying
individuals with respect to the taxpayer:
''(i) expenses for household services, and
''(ii) expenses for the care of a
qualifying individual, including expenses for
respite care and hospice care.
''(B) Exception.--Employment-related expenses
described in subparagraph (A) which are incurred for
services outside the taxpayer's household shall be
taken into account only if incurred for the care of--
''(i) a qualifying individual described in
paragraph (1)(A), or
''(ii) a qualifying individual (not
described in paragraph (1)(A)) who regularly
spends at least 8 hours each day in the
taxpayer's household.
''(C) Dependent care centers.--Employment-related
expenses described in subparagraph (A) which are
incurred for services provided outside the taxpayer's
household by a dependent care center (as defined in
subparagraph (D)) shall be taken into account only if--
''(i) such center complies with all
applicable laws and regulations of a State or
unit of local government, and
''(ii) the requirements of subparagraph (B)
are met.
''(D) Dependent care center defined.--For purposes
of this paragraph, the term 'dependent care center'
means any facility which--
''(i) provides care for more than six
individuals (other than individuals who reside
at the facility), and
''(ii) receives a fee, payment, or grant
for providing services for any of the
individuals (regardless of whether such
facility is operated for profit).
''(c) Dollar Limit on Amount Creditable.--The amount of the
employment-related expenses incurred during any taxable year which may
be taken into account under subsection (a) shall not exceed--
''(1) $3,000 if there is 1 qualifying individual with
respect to the taxpayer for such taxable year, or
''(2) $6,000 if there are 2 or more qualifying individuals
with respect to the taxpayer for such taxable year.
The amount determined under paragraph (1) or (2) (whichever is
applicable) shall be reduced by the aggregate amount excludable from
gross income under section 129 for the taxable year.
''(d) Earned Income Limitation.--Except as otherwise provided in
this subsection, the amount of the employment-related expenses incurred
during any taxable year which may be taken into account under
subsection (a) shall not exceed--
''(1) in the case of an individual who is not married at
the close of such year, such individual's earned income for
such year, or
''(2) in the case of an individual who is married at the
close of such year, the lesser of such individual's earned
income or the earned income of his spouse for such year.
''(e) Special Rules.--For purposes of this section--
''(1) Place of abode.--An individual shall not be treated
as having the same principal place of abode of the taxpayer if
at any time during the taxable year of the taxpayer the
relationship between the individual and the taxpayer is in
violation of local law.
''(2) Married couples must file joint return.--If the
taxpayer is married at the close of the taxable year, the
credit shall be allowed under subsection (a) only if the
taxpayer and his spouse file a joint return for the taxable
year.
''(3) Marital status.--An individual legally separated from
his spouse under a decree of divorce or of separate maintenance
shall not be considered as married.
''(4) Certain married individuals living apart.--If--
''(A) an individual who is married and who files a
separate return--
''(i) maintains as his home a household
which constitutes for more than one-half of the
taxable year the principal place of abode of a
qualifying individual, and
''(ii) furnishes over half of the cost of
maintaining such household during the taxable
year, and
''(B) during the last 6 months of such taxable year
such individual's spouse is not a member of such
household, such individual shall not be considered as
married.
''(5) Payments to related individuals.--No credit shall be
allowed under subsection (a) for any amount paid by the
taxpayer to an individual--
''(A) with respect to whom, for the taxable year, a
deduction under section 151(c) (relating to deduction
for personal exemptions for dependents) is allowable
either to the taxpayer or his spouse, or
''(B) who is a child of the taxpayer (within the
meaning of section 152(f)(1)) who has not attained the
age of 19 at the close of the taxable year. For
purposes of this paragraph, the term 'taxable year'
means the taxable year of the taxpayer in which the
service is performed.
''(6) Identifying information required with respect to
service provider.--No credit shall be allowed under subsection
(a) for any amount paid to any person unless--
''(A) the name, address, and taxpayer
identification number of such person are included on
the return claiming the credit, or
''(B) if such person is an organization described
in section 501(c)(3) and exempt from tax under section
501(a), the name and address of such person are
included on the return claiming the credit.
In the case of a failure to provide the information required
under the preceding sentence, the preceding sentence shall not
apply if it is shown that the taxpayer exercised due diligence
in attempting to provide the information so required.
''(7) Identifying information required with respect to
qualifying individuals.--No credit shall be allowed under this
section with respect to any qualifying individual unless the
TIN of such individual is included on the return claiming the
credit.
''(f) Regulations.--The Secretary shall prescribe such regulations
as may be necessary to carry out the purposes of this section.''.
(b) Clerical Amendment.--The table of sections for subpart A of
part IV of subchapter A of chapter 1 of the Internal Revenue Code of
1986 is amended by adding at the end the following new item:

''Sec. 25E. Expenses for household and elder care services necessary
for gainful employment.''.
(c) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after the date of the enactment of
this Act.

Ex Output:
Amends the Internal Revenue Code to allow a new tax credit for employment-related expenses necessary to care for a dependent of a taxpayer who has attained age 50, including expenses for household services and for the care of the dependent, including respite care and hospice care. Limits the amount of such credit to $3,000 for the care of one dependent and $6,000 for the care of two or more dependents of the taxpayer in a taxable year.

Ex Input:
SECTION 1. SHORT TITLE.

This Act may be cited as the ''Women's Health Research and
Prevention Amendments of 1998''.

TITLE I--PROVISIONS RELATING TO WOMEN'S HEALTH RESEARCH AT NATIONAL
INSTITUTES OF HEALTH

SEC. 101. RESEARCH ON DRUG DES; NATIONAL PROGRAM OF EDUCATION.
(a) Research.--Section 403A(e) of the Public Health Service Act (42
U.S.C. 283a(e)) is amended by striking ''1996'' and inserting ''2003''.
(b) National Program for Education of Health Professionals and
Public.--Title XVII of the Public Health Service Act (42 U.S.C. 300u et
seq.) is amended by adding at the end the following:

''education regarding des

''Sec. 1710. (a) In General.--The Secretary, acting through the
heads of the appropriate agencies of the Public Health Service, shall
carry out a national program for the education of health professionals
and the public with respect to the drug diethylstilbestrol (commonly
known as DES). To the extent appropriate, such national program shall
use methodologies developed through the education demonstration program
carried out under section 403A. In developing and carrying out the
national program, the Secretary shall consult closely with
representatives of nonprofit private entities that represent
individuals who have been exposed to DES and that have expertise in
community-based information campaigns for the public and for health
care providers. The implementation of the national program shall begin
during fiscal year 1999.
''(b) Authorization of Appropriations.--For the purpose of carrying
out this section, there are authorized to be appropriated such sums as
may be necessary for each of the fiscal years 1999 through 2003. The
authorization of appropriations established in the preceding sentence
is in addition to any other authorization of appropriation that is
available for such purpose.''.
SEC. 102. RESEARCH ON OSTEOPOROSIS, PAGET'S DISEASE, AND RELATED
BONE DISORDERS.
Section 409A(d) of the Public Health Service Act (42 U.S.C.
284e(d)) is amended by striking ''and 1996'' and inserting ''through
2003''.

SEC. 103. RESEARCH ON CANCER.

(a) Research on Breast Cancer.--Section 417B(b)(1) of the Public
Health Service Act (42 U.S.C. 286a-8(b)(1)) is amended--
(1) in subparagraph (A), by striking ''and 1996'' and inserting
''through 2003''; and
(2) in subparagraph (B), by striking ''and 1996'' and inserting
''through 2003''.
(b) Research on Ovarian and Related Cancer Research.--Section
417B(b)(2) of the Public Health Service Act (42 U.S.C. 286a-8(b)(2)) is
amended by striking ''and 1996'' and inserting ''through 2003''.
SEC. 104. RESEARCH ON HEART ATTACK, STROKE, AND OTHER
CARDIOVASCULAR DISEASES IN WOMEN.
Subpart 2 of part C of title IV of the Public Health Service Act
(42 U.S.C. 285b et seq.) is amended by inserting after section 424 the
following:

''heart attack, stroke, and other cardiovascular diseases in women

''Sec. 424A. (a) In General.--The Director of the Institute shall
expand, intensify, and coordinate research and related activities of
the Institute with respect to heart attack, stroke, and other
cardiovascular diseases in women.
''(b) Coordination With Other Institutes.--The Director of the
Institute shall coordinate activities under subsection (a) with similar
activities conducted by the other national research institutes and
agencies of the National Institutes of Health to the extent that such
Institutes and agencies have responsibilities that are related to heart
attack, stroke, and other cardiovascular diseases in women.
''(c) Certain Programs.--In carrying out subsection (a), the
Director of the Institute shall conduct or support research to expand
the understanding of the causes of, and to develop methods for
preventing, cardiovascular diseases in women. Activities under such
subsection shall include conducting and supporting the following:
''(1) Research to determine the reasons underlying the
prevalence of heart attack, stroke, and other cardiovascular
diseases in women, including African-American women and other women
who are members of racial or ethnic minority groups.
''(2) Basic research concerning the etiology and causes of
cardiovascular diseases in women.
''(3) Epidemiological studies to address the frequency and
natural history of such diseases and the differences among men and
women, and among racial and ethnic groups, with respect to such
diseases.
''(4) The development of safe, efficient, and cost-effective
diagnostic approaches to evaluating women with suspected ischemic
heart disease.
''(5) Clinical research for the development and evaluation of
new treatments for women, including rehabilitation.
''(6) Studies to gain a better understanding of methods of
preventing cardiovascular diseases in women, including applications
of effective methods for the control of blood pressure, lipids, and
obesity.
''(7) Information and education programs for patients and
health care providers on risk factors associated with heart attack,
stroke, and other cardiovascular diseases in women, and on the
importance of the prevention or control of such risk factors and
timely referral with appropriate diagnosis and treatment. Such
programs shall include information and education on health-related
behaviors that can improve such important risk factors as smoking,
obesity, high blood cholesterol, and lack of exercise.
''(d) Authorization of Appropriations.--For the purpose of carrying
out this section, there are authorized to be appropriated such sums as
may be necessary for each of the fiscal years 1999 through 2003. The
authorization of appropriations established in the preceding sentence
is in addition to any other authorization of appropriation that is
available for such purpose.''.

SEC. 105. AGING PROCESSES REGARDING WOMEN.

Section 445H of the Public Health Service Act (42 U.S.C. 285e-10)
is amended--
(1) by striking ''The Director'' and inserting ''(a) The
Director''; and
(2) by adding at the end the following subsection:
''(b) For the purpose of carrying out this section, there are
authorized to be appropriated such sums as may be necessary for each of
the fiscal years 1999 through 2003. The authorization of appropriations
established in the preceding sentence is in addition to any other
authorization of appropriation that is available for such purpose.''.

SEC. 106. OFFICE OF RESEARCH ON WOMEN'S HEALTH.

Section 486(d)(2) of the Public Health Service Act (42 U.S.C.
287d(d)(2)) is amended by striking ''Director of the Office'' and
inserting ''Director of NIH''.

TITLE II--PROVISIONS RELATING TO WOMEN'S HEALTH AT CENTERS FOR DISEASE
CONTROL AND PREVENTION

SEC. 201. NATIONAL CENTER FOR HEALTH STATISTICS.

Section 306(n) of the Public Health Service Act (42 U.S.C. 242k(n))
is amended--
(1) in paragraph (1), by striking ''through 1998'' and
inserting ''through 2003''; and
(2) in paragraph (2), by striking ''through 1998'' and
inserting ''through 2003''.

SEC. 202. NATIONAL PROGRAM OF CANCER REGISTRIES.

Section 399L(a) of the Public Health Service Act (42 U.S.C. 280e-
4(a)) is amended by striking ''through 1998'' and inserting ''through
2003''.
SEC. 203. NATIONAL BREAST AND CERVICAL CANCER EARLY DETECTION
PROGRAM.
(a) Services.--Section 1501(a)(2) of the Public Health Service Act
(42 U.S.C. 300k(a)(2)) is amended by inserting before the semicolon the
following: ''and support services such as case management''.
(b) Providers of Services.--Section 1501(b) of the Public Health
Service Act (42 U.S.C. 300k(b)) is amended--
(1) in paragraph (1), by striking ''through grants'' and all
that follows and inserting the following: ''through grants to
public and nonprofit private entities and through contracts with
public and private entities.''; and
(2) by striking paragraph (2) and inserting the following:
''(2) Certain applications.--If a nonprofit private entity and
a private entity that is not a nonprofit entity both submit
applications to a State to receive an award of a grant or contract
pursuant to paragraph (1), the State may give priority to the
application submitted by the nonprofit private entity in any case
in which the State determines that the quality of such application
is equivalent to the quality of the application submitted by the
other private entity.''.
(c) Authorizations of Appropriations.--
(1) Supplemental grants for additional preventive health
services.--Section 1509(d)(1) of the Public Health Service Act (42
U.S.C. 300n-4a(d)(1)) is amended by striking ''through 1998'' and
inserting ''through 2003''.
(2) General program.--Section 1510(a) of the Public Health
Service Act (42 U.S.C. 300n-5(a)) is amended by striking ''through
1998'' and inserting ''through 2003''.
SEC. 204. CENTERS FOR RESEARCH AND DEMONSTRATION OF HEALTH
PROMOTION.
Section 1706(e) of the Public Health Service Act (42 U.S.C. 300u-
5(e)) is amended by striking ''through 1998'' and inserting ''through
2003''.

Speaker of the House of Representatives.

Vice President of the United States and
President of the Senate.

Ex Output:
TABLE OF CONTENTS:
Title I: Provisions Relating to Women's Health Research at
National Institutes of Health
Title II: Provisions Relating to Women's Health at Centers
for Disease Control and Prevention
Women's Health Research and Prevention Amendments of 1998 -
Title I: Provisions Relating to Women's Health Research at National Institutes of Health
- Amends the Public Health Service Act to extend the authorization of appropriations for programs regarding diethylstilbestrol (DES).
Mandates a program of education of health professionals and the public concerning DES. Authorizes appropriations.
(Sec. 102) Extends the authorizations of appropriations for: (1) research on osteoporosis, Paget's disease, and related bone disorders; (2) breast cancer programs; and (3) programs on ovarian and other cancers of the reproductive system of women.
(Sec. 104) Mandates expansion, intensification, and coordination of research and related activities of the National Heart, Lung, and Blood Institute regarding heart attack, stroke, and other cardiovascular diseases in women. Authorizes appropriations.
(Sec. 105) Extends the authorization of appropriations for research on the aging processes of women.
(Sec. 106) Requires that the Director of the National Institutes of Health (currently, the Director of the Office of Research on Women's Health) appoint members of the Advisory Committee on Women's Health.
Title II: Provisions Relating to Women's Health at Centers for Disease Control and Prevention
- Extends the authorization of appropriations for the National Center for Health Statistics and the National Program of Cancer Registries.
(Sec. 203) Authorizes grants to States to ensure the provision to women screened for breast or cervical cancer of support services such as case management. Allows certain breast and cervical cancer programs to be carried out through grants to public and nonprofit private entities and contracts with public or private entities (currently, through grants and contracts with public or nonprofit private entities). Allows a State to give priority to a nonprofit entity over an entity that is not a nonprofit if the quality of the entities' applications are equivalent. Extends authorizations of appropriations for: (1) annual evaluations of programs relating to preventive health measures regarding breast and cervical cancers; and (2) various breast and cervical cancer preventive health measures.
(Sec. 204) Extends the authorization of appropriations for centers for research and demonstration regarding health promotion and disease prevention.

Ex Input:
SECTION 1. SHORT TITLE.

This Act may be cited as the ''Employee Stock Ownership Plan
Promotion and Improvement Act of 2004''.

SEC. 2. DISTRIBUTIONS BY AN S CORPORATION TO AN EMPLOYEE STOCK
OWNERSHIP PLAN.

(a) In General.--Section 1368 of the Internal Revenue Code of 1986
(relating to distributions) is amended by adding at the end the
following new subsection:
''(f) Distributions by an S Corporation to an Employee Stock
Ownership Plan.--Any distribution described in subsection (a) to an
employee stock ownership plan (as defined in section 4975(e)(7)) shall
be treated as a dividend under section 404(k)(2)(A).''.
(b) Technical Amendment.--Section 404(a)(9)(C) of the Internal
Revenue Code of 1986 (relating to S corporations) is amended to read as
follows:
''(C) S corporations.--The deduction provided in
this paragraph shall not apply to an S corporation.''.
(c) Effective Date.--The amendments made by this section shall
apply to distributions received after December 31, 1998.
(d) Waiver of Limitations.--If refund or credit of any overpayment
of tax resulting from the application of the amendments made by this
section is prevented at any time before the close of the 1-year period
beginning on the date of the enactment of this Act by the operation of
any law or rule of law (including res judicata), such refund or credit
may nevertheless be made or allowed if claim therefor is filed before
the close of such period.

SEC. 3. ESOP DIVIDEND EXCEPTION TO ADJUSTMENTS BASED ON ADJUSTED
CURRENT EARNINGS.

(a) In General.--Section 56(g)(4)(C) of the Internal Revenue Code
of 1986 (relating to disallowance of items not deductible in computing
earnings and profits) is amended by adding at the end the following new
clause:
''(v) Treatment of esop dividends.--Clause
(i) shall not apply to any deduction allowable
under section 404(k) if the deduction is
allowed for dividends paid on employer
securities held by an employee stock ownership
plan established or authorized to be
established before March 15, 1991.''.
(b) Effective Date.--The amendment made by this section shall apply
to taxable years beginning after December 31, 1989.
(c) Waiver of limitations.--If refund or credit of any overpayment
of tax resulting from the application of the amendment made by this
section is prevented at any time before the close of the 1-year period
beginning on the date of the enactment of this Act by the operation of
any law or rule of law (including res judicata), such refund or credit
may nevertheless be made or allowed if claim therefor is filed before
the close of such period.

SEC. 4. AMENDMENTS RELATED TO SECTION 1042.

(a) Deferral of Tax for Certain Sales to Employee Stock Ownership
Plan Sponsored by S Corporation.--
(1) In general.--Section 1042(c)(1)(A) of the Internal
Revenue Code of 1986 (defining qualified securities) is amended
by striking ''C''.
(2) Effective date.--The amendment made by paragraph (1)
shall apply to sales after the date of the enactment of this
Act.
(b) Reinvestment in Certain Mutual Funds Permitted.--
(1) In general.--Clause (ii) of section 1042(c)(4)(B) of
the Internal Revenue Code of 1986 (defining operating
corporation) is amended to read as follows:
''(ii) Financial institutions, insurance
companies, and mutual funds.--The term
'operating corporation' shall include--
''(I) any financial institution
described in section 581,
''(II) any insurance company
subject to tax under subchapter L, and
''(III) any regulated investment
company if substantially all of the
securities held by such company are
securities issued by operating
corporations (determined without regard
to this subclause).''.
(2) Effective date.--The amendment made by
paragraph (1) shall apply to sales of qualified
securities after the date of the enactment of this Act.
(c) Modification to 25-Percent Shareholder Rule.--
(1) In general.--Subparagraph (B) of section 409(n)(1) of
the Internal Revenue Code of 1986 (relating to securities
received in certain transactions) is amended to read as
follows:
''(B) for the benefit of any other person who owns
(after the application of section 318(a)) more than 25
percent of--
''(i) the total combined voting power of
all classes of stock of the corporation which
issued such employer securities or of any
corporation which is a member of the same
controlled group of corporations (within the
meaning of subsection (l)(4)) as such
corporation, or
''(ii) the total value of all classes of
stock of any such corporation.''.
(2) Effective date.--The amendment made by paragraph (1)
shall take effect on the date of the enactment of this Act.

SEC. 5. EARLY DISTRIBUTIONS FROM EMPLOYEE STOCK OWNERSHIP PLANS FOR
HIGHER EDUCATION EXPENSES AND FIRST-TIME HOMEBUYER
PURCHASES.

(a) In General.--Paragraph (2) of section 72(t) of the Internal
Revenue Code of 1986 (relating to 10-percent additional tax on early
distributions from qualified retirement plans) is amended by adding at
the end the following new subparagraph:
''(G) Distributions from employee stock ownership
plans for higher education expenses and first-time
homebuyer purchases.--
''(i) In general.--Distributions made to
the employee from an employee stock ownership
plan (within the meaning of section
4975(e)(7)), the amount of which does not
exceed the sum of--
''(I) qualified higher education
expenses (as defined by paragraph (7))
reduced by the amount of such expenses
taken into account under subparagraph
(E), and
''(II) qualified first-time
homebuyer distributions (as defined by
paragraph (8)) reduced by the amount of
such distributions taken into account
under subparagraph (F).
''(ii) Limitation.--A distribution may only
be taken into account under clause (i) if--
''(I) such distribution is in the
form of either employer securities
(within the meaning of section 409(l))
or cash proceeds resulting from the
sale of such securities made not more
than 180 days before the date of such
distribution for the purposes of such
distribution,
''(II) such securities so
distributed or sold were held by such
plan for at least 5 years before the
date of such distribution or, if
applicable, sale, and
''(III) the number of shares in
each class of such securities so
distributed or sold, when added to all
previous distributions and sales of
each such class of such securities for
such purposes on behalf of such
employee, does not exceed 10 percent of
the aggregate number of shares of each
class of such securities allocated to
the account of such employee under such
plan.
''(iii) Valuation of distributed
securities.--For purposes of clause (ii), the
value of a security shall be the value of such
security on the date of distribution.''.
(b) Conforming Amendments.--
(1) Paragraph (7) of section 72(t) of such Code is amended
by striking ''paragraph (2)(E)'' and inserting ''subparagraphs
(E) and (G) of paragraph (2)''.
(2) Paragraph (8) of section 72(t) of such Code is amended
by striking ''paragraph (2)(F)'' and inserting ''subparagraphs
(F) and (G) of paragraph (2)''.
(c) Effective Date.--The amendments made by this section shall
apply to distributions made after the date of the enactment of this
Act.

Ex Output:
Employee Stock Ownership Plan Promotion and Improvement Act of 2004 - Amends the Internal Revenue Code to: (1) treat certain distributions by S corporations to an employee stock ownership plan (ESOP) as deductible dividends; (2) exempt deductions for ESOP dividends from corporate alternative minimum tax adjustments based on adjusted earnings and profits; (3) allow deferral of the recognition of gain for certain sales to ESOP's sponsored by any domestic corporation, including S corporations; (4) allow reinvestment of ESOP stock proceeds eligible for nonrecognition of gain in certain mutual funds; (5) modify certain ESOP stock ownership rules; and (6) allow early distributions from an ESOP for higher education expenses and first-time homebuyer purchases without penalty.