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S. 2403Passed Congress

Retire through Ownership Act

Introduced: Jul 23, 2025

Latest action date: Sep 16, 2026

Latest development

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

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Congress
119th Congress
Introduced
Jul 23, 2025
Recorded roll calls
1

Status detail: The full action history records passage in both chambers.

Plain-language overview

What this bill does

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. 

Civixly topics

What this legislation is about

Civixly topics make federal and state legislation comparable. They are derived from the official CRS policy area and legislative subjects.

Official CRS policy area

Labor and Employment

View 3 official legislative subjects
Employee benefits and pensionsFinancial services and investmentsSecurities

Committee activity

Committees and subcommittees that received, reviewed, marked up, or reported this legislation.

senateStanding

Health, Education, Labor, and Pensions Committee

Official committee record ↗
  1. Referred To
  2. Markup By
  3. Reported By

Amendments

Proposed changes to this measure, with their latest official outcome or action from Congress.gov.

No amendments are listed for this measure.

Checked against Congress.gov Sep 17, 2026.

Action timeline

Newest action first. Action language comes from the official Congress.gov record.

View full action timeline19 actions
  1. Motion to reconsider laid on the table Agreed to without objection.

    FloorHouse floor actions
  2. 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).

    FloorHouse floor actions
  3. 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).

    FloorLibrary of Congress
  4. Considered as unfinished business.

    FloorHouse floor actions
  5. 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.

    FloorHouse floor actions
  6. DEBATE - The House proceeded with forty minutes of debate on S. 2403.

    FloorHouse floor actions
  7. Considered under suspension of the rules.

    FloorHouse floor actions
  8. Mr. Walberg moved to suspend the rules and pass the bill.

    FloorHouse floor actions
  9. Held at the desk.

    FloorHouse floor actions
  10. Received in the House.

    FloorHouse floor actions
  11. Message on Senate action sent to the House.

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

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

    FloorLibrary of Congress
  14. Placed on Senate Legislative Calendar under General Orders. Calendar No. 158.

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

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

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

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

    IntroReferralSenate
  19. Introduced in Senate

    IntroReferralLibrary of Congress

Roll-call votes

Recorded House and Senate votes connected to this bill. Your representatives appear first when available.

PassedSep 16, 2026House · Roll call 314

On Motion to Suspend the Rules and Pass

Vote source ↗
401 Yea18 Not Voting14 Nay
View 433 recorded positions
Adam SmithNot Voting
Andy BiggsNot Voting
Brandon GillNot Voting
Cory MillsNot Voting
Daniel WebsterNot Voting
Greg CasarNot Voting
James GallagherNot Voting
John GaramendiNot Voting
John JamesNot Voting
Kathy CastorNot Voting
Lauren BoebertNot Voting
Neal P. DunnNot Voting
Pat HarriganNot Voting
Steve WomackNot Voting
Vern BuchananNot Voting

Discussion

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Sources: Congress.gov and official House and Senate vote records.

View data freshness details

Base metadata checked Sep 17, 2026 · Summary checked Sep 17, 2026 · Action timeline checked Sep 17, 2026 · Sponsorship checked Sep 17, 2026 · Topics checked Sep 17, 2026 · Committees checked Sep 17, 2026 · Status checked Sep 17, 2026 · Related bills checked Sep 17, 2026.