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United States

S. 2403

Retire through Ownership Act

Health, Education, Labor, and Pensions Committee · Sen. Roger Marshall (R-KS)

The bill would clarify how Employee Stock Ownership Plans (ESOPs) determine the fair market value of company stock that isn't publicly traded, by allowing plan fiduciaries to rely on valuations from independent experts who follow established appraisal methodologies. This aims to give workers and plan managers greater confidence in the value assigned to their retirement benefits in closely held companies.[AI-Generated]

Passed House (401-14) 16 September 2026

Record as of 16 September 2026 — the most recent action in the official record. Status can lag; each step below carries its own date.

  1. 16 September 2026 Passed House (401-14)

    What's next: Presidential review (±10 days)

    9 more actions
    1. 16 September 2026 Motion to reconsider laid on the table Agreed to without objection.
    2. 16 September 2026 Considered as unfinished business.
    3. 16 September 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.
    4. 16 September 2026 DEBATE - The House proceeded with forty minutes of debate on S. 2403.
    5. 16 September 2026 Considered under suspension of the rules.
    6. 16 September 2026 Mr. Walberg moved to suspend the rules and pass the bill.
    7. 17 October 2025 Held at the desk.
    8. 17 October 2025 Received in the House.
    9. 16 October 2025 Message on Senate action sent to the House.
  2. 9 October 2025 Passed Senate with amendment
  3. 11 September 2025 Placed on calendar (Senate)
  4. 11 September 2025 Reported by committee
    1 more action
    1. 30 July 2025 Committee on Health, Education, Labor, and Pensions. Ordered to be reported with an amendment in the nature of a substitute favorably.
  5. 23 July 2025 Referred to committee
  6. 23 July 2025 Introduced in Senate
This path starts where the bill does — its first action in the official record. Routine procedural steps sit in the “more actions” rows above rather than on the main line.

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