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Tax decreaseIn effectCapital taxationNational

PACTE law: combined PEA and PEA-PME ceiling raised to €225,000 and PEA made more flexible

The PACTE law modernised the equity savings plan (PEA) and the PEA dedicated to financing SMEs and mid-sized companies. The PEA-PME contribution ceiling was raised from €75,000 to €225,000, within a ceiling combined with the standard PEA, which remains capped at €150,000. The law also opened the PEA to some young adults attached to their parents' tax household, allowed early withdrawals without closure in exceptional events and removed the freeze on contributions after a withdrawal between five and eight years.

Measure originators

InitiatorGVT
Bruno Le Maire
Gouvernement
Amount
225,000 €
Impact on public finances

No official estimate found for this measure.

Effective date
24 May 2019

Measure impact

Savers can invest more in shares of SMEs and mid-sized companies while keeping the income tax exemption on gains after five years (excluding social levies).

Official references

Law number: Loi n° 2019-486 du 22 mai 2019 (PACTE), art. 89 à 92
Official Journal: JORF n° 0119 du 23 mai 2019
View on Légifrance

Sources

Loi n° 2019-486 du 22 mai 2019 relative à la croissance et la transformation des entreprisesOfficial
23 May 2019
Direction générale du Trésor, « Moderniser le PEA et le PEA-PME » (loi PACTE)Official

Procedure timeline

Follow the progress of this fiscal measure through the different stages of the parliamentary procedure.

100%
6 / 6 steps
Completed
24 May 2019

Administrative implementation

Application

Entrée en vigueur de la mesure et mise en œuvre par l'administration

Entrée en vigueur des dispositions relatives au PEA et au PEA-PME au lendemain de la publication.
Source
Completed
22 May 2019

President of the Republic signature

Promulgation

Publication au Journal officiel

Promulgation de la loi n° 2019-486 du 22 mai 2019, publiée au Journal officiel n° 0119 du 23 mai 2019.
Source
Completed
16 May 2019

Possible referral to Constitutional Council

Constitutional review

Décision de conformité / censure partielle

Décision du Conseil constitutionnel n° 2019-781 DC du 16 mai 2019.
Source
Completed
11 April 2019

National Assembly has the final say

Parliamentary process

Si échec CMP

Adoption définitive par l'Assemblée nationale en lecture définitive.
Source
Completed
12 February 2019

Debate and vote

Parliamentary process
Adoption du projet de loi par le Sénat en première lecture.
Source
Completed
18 June 2018

Council of Ministers

Internal validation

Validation interne

Actors
Bruno Le Maire
Présentation du projet de loi relatif à la croissance et la transformation des entreprises en Conseil des ministres.
Source