### Question
What is the definition of tax credit employee stock ownership plan?


### Answer
The definition of **tax credit employee stock ownership plan** is as follows in *26 U.S.C. § 409*:

> a defined contribution plan which—


(1) meets the requirements of section 401(a),


(2) is designed to invest primarily in employer securities, and


(3) meets the requirements of subsections (b), (c), (d), (e), (f), (g), (h), and (*o*) of this section

#### Citation:
  - *26 U.S.C. § 409*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter D-Deferred Compensation, Etc. > PART I-PENSION, PROFIT-SHARING, STOCK BONUS PLANS, ETC. > Subpart A-General Rule**

