A bill to amend the Internal Revenue Code of 1954 and the Employee Retirement Income Security Act of 1974 to permit certain loans from qualified plans to owner-employees and shareholder-employees.

Amends the Internal Revenue Code and the Employee Retirement Income Security Act of 1974 to permit the making of certain loans by an employee benefit plan, other than an individual retirement plan, to owner-employees or shareholder-employees without invoking the prohibited transaction provisions.