S 2403 119th Congress
Retire through Ownership Act
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 Congress.gov
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Bill journey
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Introduction Congress.gov
Introduced
Introduced in the Senate.
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Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
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Introduced in Senate
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Introduced in Senate
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Committee on Health, Education, Labor, and Pensions. Ordered to be reported with an amendment in the nature of a substitute favorably.
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Placed on Senate Legislative Calendar under General Orders. Calendar No. 158.
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Committee on Health, Education, Labor, and Pensions. Reported by Senator Cassidy with an amendment in the nature of a substitute. Without written report.
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Committee on Health, Education, Labor, and Pensions. Reported by Senator Cassidy with an amendment in the nature of a substitute. Without written report.
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Reported to Senate
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Passed Senate with an amendment by Unanimous Consent. (consideration: CR S7103; text: CR S7103)
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Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent.
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Engrossed in Senate
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Message on Senate action sent to the House.
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Official action Congress.gov · 2:02 pm UTC
Received in the House.
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Held at the desk.
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House roll call Congress.gov · 11:05 pm UTC
House roll 314
On Motion to Suspend the Rules and Pass
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View the complete bill journey as an accessible table
| Date and time | Record | Official detail | Source |
|---|---|---|---|
| IntroductionIntroduced | Introduced in the Senate. | Congress.gov | |
| Official actionRead twice and referred to the Committee on Health, Education, Labor, and Pensions. | No additional detail supplied.IntroReferral · Senate | Congress.gov | |
| Official actionIntroduced in Senate | No additional detail supplied.IntroReferral · Library of Congress · Code 10000 | Congress.gov | |
| Text versionIntroduced in Senate | A dated text-version record is available. | Congress.gov | |
| Official actionCommittee on Health, Education, Labor, and Pensions. Ordered to be reported with an amendment in the nature of a substitute favorably. | No additional detail supplied.Committee · Senate | Congress.gov | |
| Official actionPlaced on Senate Legislative Calendar under General Orders. Calendar No. 158. | No additional detail supplied.Calendars · Senate | Congress.gov | |
| Official actionCommittee on Health, Education, Labor, and Pensions. Reported by Senator Cassidy with an amendment in the nature of a substitute. Without written report. | No additional detail supplied.Committee · Senate | Congress.gov | |
| Official actionCommittee on Health, Education, Labor, and Pensions. Reported by Senator Cassidy with an amendment in the nature of a substitute. Without written report. | No additional detail supplied.Committee · Library of Congress · Code 14000 | Congress.gov | |
| Text versionReported to Senate | A dated text-version record is available. | Congress.gov | |
| Official actionPassed Senate with an amendment by Unanimous Consent. (consideration: CR S7103; text: CR S7103) | No additional detail supplied.Floor · Senate | Congress.gov | |
| Official actionPassed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent. | No additional detail supplied.Floor · Library of Congress · Code 17000 | Congress.gov | |
| Text versionEngrossed in Senate | A dated text-version record is available. | Congress.gov | |
| Official actionMessage on Senate action sent to the House. | No additional detail supplied.Floor · Senate | Congress.gov | |
| Official actionReceived in the House. | No additional detail supplied.Floor · House floor actions · Code H14000 | Congress.gov | |
| Official actionHeld at the desk. | No additional detail supplied.Floor · House floor actions · Code H15000 | Congress.gov | |
| House roll callHouse roll 314 | On Motion to Suspend the Rules and PassPassed | Congress.gov |
House roll calls join only on matching Congress, legislation type, and number. Senate roll calls join only on matching source-supplied document type and number, not question text. Committee and related-measure relationships have no date in their relationship records and therefore are counted above but never placed on the chronology.
Congressional Research Service
CRS summary
Retire through Ownership ActThis 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.
Official documents
Text versions
- Engrossed in SenateOct 9, 2025
- Reported to SenateSep 11, 2025
- Introduced in SenateJul 23, 2025