Retire through Ownership Act
- Introduced Jul 23
- Committee Jul 23
- Passed Senate Oct 9
- Passed House Sep 16
- To President Oct 5
- Law Oct 15
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Summary
Retire through Ownership Act
Full summary3 paragraphs
This act allows the fiduciary of an Employee Stock Ownership Plan (ESOP) to rely on a valuation provided by an independent valuation expert or business appraiser in determining the fair market value of the plan's assets if the assets are not securities for which there is a generally recognized market and the expert or appraiser follows specified methodologies.
In general, ESOPs are defined contribution pension plans where employees accrue shares of their employers' stock in individual accounts as part of their compensation. After separating from employment or retiring, employees receive the cash value of their shares.
Under the act, an independent expert or appraiser must adhere to the methodology established under the Internal Revenue Service Ruling 59-60, which prescribes the factors a professional business appraiser should consider in forming a valuation of the stock for a closely held business.
Library of Congress summary, Oct 15, 2026
- Public LawOct 15, 2026
- Passed SenateOct 9, 2025
Actions
- Signed by President.Oct 15, 2026
- Became Public Law No: 119-124.Oct 15, 2026
- HousePresented to President.Oct 5, 2026
- HouseMotion to reconsider laid on the table Agreed to without objection.Sep 16, 2026
- HouseOn motion to suspend the rules and pass the bill Agreed to by the Yeas and Nays: (2/3 required): 401 - 14 (Roll no. 314). (text: CR H5905)Sep 16, 2026
- HouseConsidered as unfinished business. (consideration: CR H5960)Sep 16, 2026
- HouseAt the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.Sep 16, 2026
- HouseDEBATE - The House proceeded with forty minutes of debate on S. 2403.Sep 16, 2026
- HouseConsidered under suspension of the rules. (consideration: CR H5905-5906)Sep 16, 2026
- HouseMr. Walberg moved to suspend the rules and pass the bill.Sep 16, 2026
- HouseHeld at the desk.Oct 17, 2025
- HouseReceived in the House.Oct 17, 2025
All actions19
- SenateMessage on Senate action sent to the House.Oct 16, 2025
- SenatePassed Senate with an amendment by Unanimous Consent. (consideration: CR S7103; text: CR S7103)Oct 9, 2025
- SenateCommittee on Health, Education, Labor, and Pensions. Reported by Senator Cassidy with an amendment in the nature of a substitute. Without written report.Sep 11, 2025
- SenatePlaced on Senate Legislative Calendar under General Orders. Calendar No. 158.Sep 11, 2025
- SenateCommittee on Health, Education, Labor, and Pensions. Ordered to be reported with an amendment in the nature of a substitute favorably.Jul 30, 2025
- SenateIntroduced in SenateJul 23, 2025
- SenateRead twice and referred to the Committee on Health, Education, Labor, and Pensions.Jul 23, 2025
Bill record
Text versions5
- Public LawOct 16, 2026PDF: Public Law
- Engrossed in SenateOct 9, 2025PDF: Engrossed in Senate
- Reported to SenateSep 11, 2025PDF: Reported to Senate
- Introduced in SenateJul 23, 2025PDF: Introduced in Senate
- Enrolled BillUndatedPDF: Enrolled Bill
Committees1
- Senate Health, Education, Labor, and Pensions CommitteeReported By Sep 11, 2025Markup By, Jul 30, 2025Referred To, Jul 23, 2025
Sponsor and cosponsors1 cosponsor
- Sen. Roger Marshall (R-KS)Sponsor, Jul 23, 2025
- Timothy Kaine (D-VA)OriginalJoined Jul 23, 2025
Amendments0
No amendments offered
Cost estimates and reports0
No cost estimate or committee report yet
Titles2
- Retire through Ownership ActShort Titles from ENR (Enrolled) bill text
- A bill to amend the Employee Retirement Income Security Act of 1974 to provide a clear definition of adequate consideration for certain closely held stock, and for other purposes.Official Title as Introduced
Subjects4
Related bills1
- H.R. 5169 119th, Related bill, PrimaryCompanionBillBecameLaw, SecondaryCompanionBillBecameLaw, Public law contains the text Retire through Ownership Act
Official record from Congress.gov, the House Clerk and the Senate; lobbying from Lobbying Disclosure Act filings. Updated Oct 27, 2026.