[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 26USC4978]
TITLE 26--INTERNAL REVENUE CODE
Subtitle D--Miscellaneous Excise Taxes
CHAPTER 43--QUALIFIED PENSION, ETC., PLANS
Sec. 4978. Tax on certain dispositions by employee stock
ownership plans and certain cooperatives
(a) Tax on dispositions of securities to which section 1042 applies
before close of minimum holding period
If, during the 3-year period after the date on which the employee
stock ownership plan or eligible worker-owned cooperative acquired any
qualified securities in a sale to which section 1042 applied or acquired
any qualified employer securities in a qualified gratuitous transfer to
which section 664(g) applied, such plan or cooperative disposes of any
qualified securities and--
(1) the total number of shares held by such plan or cooperative
after such dispo
