133(a) allows a bank to exclude from gross income 50% of the interest received on loans to leveraged employee stock ownership plans
(ESOPs) or their sponsoring corporations, to the extent that the loan proceeds are used to acquire employer securities for the plan.
During 1994, new accounting requirements became effective for leveraged Employee Stock Ownership Plans
(ESOP's) which had acquired shares of the sponsor's common stock after December 31, 1992.
33) The IRS also released for public comment its proposed field agent examination guidelines for leveraged employee stock ownership plans
(ESOPs), plans that may be top heavy, and limitations for defined contribution plans.