119th Congress
S. 2403
Retire through Ownership Act
- Introduced
- In committee
- Passed Senate
- Passed House
- To President
- Became law
- Sponsor
- Roger Marshall(R-KS)
- Introduced
- Jul 23, 2025
- Policy area
- Labor and Employment
- Committees
- Senate Committee on Health, Education, Labor, and Pensions
- Official text
- Engrossed in Senate · Congress.gov page
Cosponsors (1)
Original cosponsors (1)
- Tim Kaine (D-VA)
Summary
Summary by the Congressional Research Service· describes the “Passed Senate” version
Retire through Ownership Act
This bill 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 securities if the securities are not traded on a national securities exchange (i.e., not publicly traded) 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 bill, 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.
Roll-call votes
| Date | Vote | Result | Your members |
|---|---|---|---|
| Sep 16, 2026 House #314 | On Motion to Suspend the Rules and Pass: Retire through Ownership Act | Passed | Set your home to see |
Actions
- Oct 5, 2026 · House
Presented to President. - Sep 16, 2026 · House
Motion to reconsider laid on the table Agreed to without objection. - Sep 16, 2026 · 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) - Sep 16, 2026 · House
Considered as unfinished business. (consideration: CR H5960) - Sep 16, 2026 · 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. - Sep 16, 2026 · House
DEBATE - The House proceeded with forty minutes of debate on S. 2403. - Sep 16, 2026 · House
Considered under suspension of the rules. (consideration: CR H5905-5906) - Sep 16, 2026 · House
Mr. Walberg moved to suspend the rules and pass the bill. - Oct 17, 2025 · House
Held at the desk. - Oct 17, 2025 · House
Received in the House. - Oct 16, 2025 · Senate
Message on Senate action sent to the House. - Oct 9, 2025 · Senate
Passed Senate with an amendment by Unanimous Consent. (consideration: CR S7103; text: CR S7103) - Oct 9, 2025
Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent. - Sep 11, 2025 · Senate
Placed on Senate Legislative Calendar under General Orders. Calendar No. 158. - Sep 11, 2025 · Senate
Committee on Health, Education, Labor, and Pensions. Reported by Senator Cassidy with an amendment in the nature of a substitute. Without written report. - Jul 30, 2025 · Senate
Committee on Health, Education, Labor, and Pensions. Ordered to be reported with an amendment in the nature of a substitute favorably. - Jul 23, 2025 · Senate
Read twice and referred to the Committee on Health, Education, Labor, and Pensions. - Jul 23, 2025
Introduced in Senate