Retire through Ownership Act
Latest action · Oct 15, 2026 Became Public Law No: 119-124.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedJul 23, 2025
- Passed SenateOct 9, 2025
- Passed HouseSep 16, 2026
- To the PresidentOct 5, 2026
- Became lawOct 15, 2026Public Law 119-124
Summary
Retire 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.
Recorded votes 1
Newest first. Open one to see how every member voted.
| Roll call | Question | Result | Date |
|---|---|---|---|
| House 314 | On Motion to Suspend the Rules and Pass | Passed401–14 | Sep 16, 2026 |
Cosponsors 1
Members who signed on, in the order they did. All signed on Jul 23, 2025.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-VA | Tim Kaine | Original | Jul 23, 2025 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| Senate | Health, Education, Labor, and Pensions Committee | Referred Jul 23, 2025Markup Jul 30, 2025Reported Sep 11, 2025 |
Actions 19
Everything that happened, newest first.
- Oct 15, 2026Signed by President.
- Oct 15, 2026Became Public Law No: 119-124.
- Oct 5, 2026Presented to President.
- Sep 16, 2026Passed/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)
- Sep 16, 2026Considered under suspension of the rules. (consideration: CR H5905-5906)
In the Congressional Record 2
Days the Record’s own index lists this bill, newest first, with the pages and the members it names. Pages starting H are the House, S the Senate, E Extensions of Remarks.
| Where | In the Record | Members | Date |
|---|---|---|---|
| House | Debate and remarks H5905, H5906Text printed H5905Recorded votes H5960enact | Rick W. Allen R-GA, Robert C. "Bobby" Scott D-VA, Tim Walberg R-MI | Sep 16, 2026 |
| Senate | Debate and remarks S7103Text printed S7103Amendments S7103 | John Hoeven R-ND | Oct 9, 2025 |
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
CRS reports 2
Congressional Research Service work that CRS links to this bill or the law it became, newest first.
Cite it 2
Products on other subjects that cite it, usually among other measures.
| Product | Title | Kind | Published |
|---|---|---|---|
| R45030 | Federal Role in Voter Registration: The National Voter Registration Act of 1993 (NVRA) and Subsequent Developments | Report | Oct 29, 2026 |
| IF13104 | Employee Stock Ownership Plans (ESOPs): An Overview | Resource | Sep 15, 2025 |
Related bills 1
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 5169 | Retire through Ownership Act | Related bill | Jan 14, 2026 |
Titles 5
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- 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.
- Short Title(s) as Introduced
- Retire through Ownership Act
- Short Title(s) as Reported to Senate
- Retire through Ownership Act
- Short Title(s) as Passed Senate
- Retire through Ownership Act
- Short Titles from ENR (Enrolled) bill text
- Retire through Ownership Act
Subjects
Assigned by the Library of Congress. Policy area: Labor and Employment.
Text 4
Each version as it was printed, newest first.
- —Enrolled Bill
- Oct 9, 2025Engrossed in Senate
- Sep 11, 2025Reported to Senate
- Jul 23, 2025Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
