Retire through Ownership Act

What this measure contains

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.

The latest Congressional Research Service summary in the bill's GovInfo status record, or its official title when no summary has been published. Amendments can change the wording; read a specific version for its complete provisions.

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Bill text and versions

Drafts can change as a measure moves through Congress. Check the version attached to a recorded vote.

• Enrolled Bill · Official document ↗
• Engrossed in Senate · Official document ↗· Oct 9, 2025
• Reported to Senate · Official document ↗· Sep 11, 2025
• Introduced in Senate · Official document ↗· Jul 23, 2025
• Public Law · Official document ↗· Oct 16, 2026

Legislative path

Each stage below is a House or Senate floor decision: every recorded roll call on this measure, plus passage by voice vote or unanimous consent, which records no individual votes. Each stage shows the latest version published before that day; the chamber may have voted on an amended text. Roll calls name every member. A member's row follows their votes, and a highlighted vote marks where they voted for advancing the measure at one stage and against it at another (passage, cloture, motions to proceed, agreeing to the other chamber's version). Amendments and motions such as recommit or table don't count as a change, because an aye there isn't a vote for the measure.

1. Introduced in Senate
2. Reported to Senate
3. Engrossed in Senateby Senate passage (unanimous consent)
4. Enrolled Bill
5. Public Law

Decision stages

1. Oct 9, 2025 · Senate

   Senate passage (unanimous consent) on Reported to Senate: Passed Senate with an amendment by Unanimous Consent. (consideration: CR S7103; text: CR S7103), reported as Engrossed in Senate

   No recorded vote

2. Sep 16, 2026 · House

   House suspend rules and pass on Engrossed in Senate: Passed

   401 aye · 14 no · 18 not voting · Source roll call

House members along the path

Aye yea or aye · No nay or no · Present · NV not voting · Changed reversed on advancing the measure

Members are identified by the Bioguide ID in each roll call, not by name. Not voting is not a no vote; a blank cell means the member wasn't listed for that roll call.Congress.gov actions ↗

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Legislative history

1. Jul 23, 2025

   Introduced in Senate

2. Jul 23, 2025

   Read twice and referred to the Committee on Health, Education, Labor, and Pensions.

3. Jul 30, 2025

   Committee on Health, Education, Labor, and Pensions. Ordered to be reported with an amendment in the nature of a substitute favorably.

4. Sep 11, 2025

   Committee on Health, Education, Labor, and Pensions. Reported by Senator Cassidy with an amendment in the nature of a substitute. Without written report.

5. Sep 11, 2025

   Placed on Senate Legislative Calendar under General Orders. Calendar No. 158.

6. Oct 9, 2025

   Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent.

7. Oct 9, 2025

   Passed Senate with an amendment by Unanimous Consent. (consideration: CR S7103; text: CR S7103)

8. Oct 16, 2025

   Message on Senate action sent to the House.

9. Oct 17, 2025

   Received in the House.

10. Oct 17, 2025

    Held at the desk.

11. Sep 16, 2026

    Mr. Walberg moved to suspend the rules and pass the bill.

12. Sep 16, 2026

    Considered under suspension of the rules. (consideration: CR H5905-5906)

13. Sep 16, 2026

    DEBATE - The House proceeded with forty minutes of debate on S. 2403.

14. Sep 16, 2026

    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.

15. Sep 16, 2026

    Considered as unfinished business. (consideration: CR H5960)

16. Sep 16, 2026

    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)

17. Sep 16, 2026

    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)

18. Sep 16, 2026

    Motion to reconsider laid on the table Agreed to without objection.

19. Oct 5, 2026

    Presented to President.

20. Oct 15, 2026

    Signed by President.

21. Oct 15, 2026

    Became Public Law No: 119-124.

Bill sponsors