Passed on 2026-10-15
Bill · 119th Congress · S 2403
Retire through Ownership Act
Refreshed 1 h ago
Introduced 2025-07-23Topic: laborSummary
Summary by the Congressional Research ServiceRetire through Ownership Act 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.
Sponsors
- Roger Marshall Republican sponsor
- 1 cosponsors
Recorded votes
| Date | Chamber | Question | Result | Yeas | Nays |
|---|---|---|---|---|---|
| 2026-09-16 | House roll 314 | On Motion to Suspend the Rules and Pass | Passed | 401 | 14 |
Action history
| Date | Chamber | Action | Status effect |
|---|---|---|---|
| 2026-10-15 | Became Public Law No: 119-124. | enact | |
| 2026-10-15 | Became Public Law No: 119-124. | enact | |
| 2026-10-15 | Signed by President. | ||
| 2026-10-15 | Signed by President. | enact | |
| 2026-10-05 | House | Presented to President. | sent to executive |
| 2026-10-05 | Presented to President. | sent to executive | |
| 2026-09-16 | House | Motion to reconsider laid on the table Agreed to without objection. | |
| 2026-09-16 | House | On 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) | |
| 2026-09-16 | Passed/agreed to in House: On 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) | floor pass | |
| 2026-09-16 | House | Considered as unfinished business. (consideration: CR H5960) | |
| 2026-09-16 | House | At 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. | |
| 2026-09-16 | House | DEBATE - The House proceeded with forty minutes of debate on S. 2403. | |
| 2026-09-16 | House | Considered under suspension of the rules. (consideration: CR H5905-5906) | |
| 2026-09-16 | House | Mr. Walberg moved to suspend the rules and pass the bill. | |
| 2025-10-17 | House | Held at the desk. | |
| 2025-10-17 | House | Received in the House. | |
| 2025-10-16 | Senate | Message on Senate action sent to the House. | |
| 2025-10-09 | Senate | Passed Senate with an amendment by Unanimous Consent. (consideration: CR S7103; text: CR S7103) | |
| 2025-10-09 | Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent. | floor pass | |
| 2025-09-11 | Senate | Placed on Senate Legislative Calendar under General Orders. Calendar No. 158. | |
| 2025-09-11 | Senate | Committee on Health, Education, Labor, and Pensions. Reported by Senator Cassidy with an amendment in the nature of a substitute. Without written report. | refer |
| 2025-09-11 | Committee on Health, Education, Labor, and Pensions. Reported by Senator Cassidy with an amendment in the nature of a substitute. Without written report. | report | |
| 2025-07-30 | Senate | Committee on Health, Education, Labor, and Pensions. Ordered to be reported with an amendment in the nature of a substitute favorably. | refer |
| 2025-07-23 | Senate | Read twice and referred to the Committee on Health, Education, Labor, and Pensions. | refer |
| 2025-07-23 | Introduced in Senate | introduce |