Retire through Ownership Act

Where it stands

1. Introduced Done · Jul 23, 2025
2. Committee Done · Jul 23, 2025
3. Passed Senate Done · Oct 9, 2025
4. Passed House Done · Sep 16, 2026
5. President Done · Oct 5, 2026
6. Law Done · Oct 15, 2026

From the official actions on Congress.gov.

Key points

What it changes

A plain-language summary isn't ready yet. The official summary below describes the bill.

Who it affects

A plain-language summary isn't ready yet. The official summary below describes the bill.

What it costs

No cost estimate yet.

Where it stands

Became Public Law No: 119-124. (Oct 15, 2026)

What happens next

Nothing more is needed from Congress. It is now law.

Official summary

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 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 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.

Summary by the Congressional Research Service (Passed Senate version), via Congress.gov.

Recorded votes

1. HOUSEFinal passageSep 16, 2026 · roll call 314

   On Motion to Suspend the Rules and Pass: Passed (401–14)

   This vote decided whether the bill passes this chamber.
   Votes by party

   How each party voted on roll call 314

   Party	Yes	No	Present	Did not vote	Share voting Yes
   Democratic	209	0	0	5
   Republican	191	14	0	13
   Independent	1	0	0	0

   Party totals from the official roll call.

   Map: how each state voted

   All voted YesSplitAll voted NoNo Yes or No votes

   Each state is shaded by the share of its U.S. House members who voted Yes, out of those who voted Yes or No. Colors show the vote, not party.

   Office of the Clerk, U.S. House ↗ — includes how every member voted

Vote types come from the official question text. How we label votes

Legislative history

1. Oct 15, 2026Became Public Law No: 119-124.
2. Oct 15, 2026Became Public Law No: 119-124.
3. Oct 15, 2026Signed by President.
4. Oct 15, 2026Signed by President.
5. Oct 5, 2026Presented to President.
6. Oct 5, 2026Presented to President.
7. Sep 16, 2026Motion to reconsider laid on the table Agreed to without objection.
8. Sep 16, 2026On 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)
9. 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)
10. Sep 16, 2026Considered as unfinished business. (consideration: CR H5960)
11. Sep 16, 2026At 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.
12. Sep 16, 2026DEBATE - The House proceeded with forty minutes of debate on S. 2403.
13. Sep 16, 2026Considered under suspension of the rules. (consideration: CR H5905-5906)
14. Sep 16, 2026Mr. Walberg moved to suspend the rules and pass the bill.
15. Oct 17, 2025Held at the desk.
16. Oct 17, 2025Received in the House.
17. Oct 16, 2025Message on Senate action sent to the House.
18. Oct 9, 2025Passed Senate with an amendment by Unanimous Consent. (consideration: CR S7103; text: CR S7103)
19. Oct 9, 2025Passed/agreed to in Senate: Passed Senate with an amendment by Unanimous Consent.
20. Sep 11, 2025Placed on Senate Legislative Calendar under General Orders. Calendar No. 158.
21. Sep 11, 2025Committee on Health, Education, Labor, and Pensions. Reported by Senator Cassidy with an amendment in the nature of a substitute. Without written report.
22. Sep 11, 2025Committee on Health, Education, Labor, and Pensions. Reported by Senator Cassidy with an amendment in the nature of a substitute. Without written report.
23. Jul 30, 2025Committee on Health, Education, Labor, and Pensions. Ordered to be reported with an amendment in the nature of a substitute favorably.
24. Jul 23, 2025Read twice and referred to the Committee on Health, Education, Labor, and Pensions.
25. Jul 23, 2025Introduced in Senate