S 2403 United States Senate · 119th Congress

Retire through Ownership Act

This bill amends the Employee Retirement Income Security Act (ERISA) to clarify how employee stock ownership plan (ESOP) fiduciaries determine the fair market value of company assets during transactions. It specifically allows ESOP plan managers to rely on established IRS guidelines (Revenue Ruling 59-60) when valuing assets, simplifying a key step in ESOP transactions. The change directly affects ESOP fiduciaries and companies using ESOPs for employee retirement benefits, making the valuation process more straightforward under current law.

Bill status passed both 4 of 5 stages cleared

Introduction

Jul 2025

Committee Review

Sep 2025

Senate Passage

Oct 2025

House Passage

Sep 2026

President

Introduced Jul 23, 2025 Last action Sep 16, 2026

Maddy AI version diff · 2 comparisons

What changed between versions

Engrossed in Senate → Enrolled Bill · 3 edits

MINOR

This diff reflects the transition of S 2403 (the Retire through Ownership Act) from its Senate-engrossed version to the final enrolled bill. No substantive policy changes were made; the differences are limited to GPO formatting standardization, addition of standard enactment language, and signature blocks required for an enrolled bill.

TECHNICAL

Added GPO metadata headers including Congress session information, public domain notice, and document conversion identifiers.

Added standard enrolled bill boilerplate: the 'Be it enacted by the Senate and House of Representatives' clause and signature lines for the Speaker of the House and Vice President.

Reformatted section headings from numbered list style (e.g., '1.Short title') to statutory style (e.g., 'SECTION 1. SHORT TITLE.') consistent with enrolled bill conventions.

Floor votes · House Sep 16, 2026

How they voted

This bill passed the Senate. No roll call record of that vote is available.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Sep 16, 2026

Lower · Passed

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).

lower

Oct 9, 2025

Upper · Passed

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

upper

Oct 9, 2025

Upper · Passed

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

upper

Sep 11, 2025

Upper · Passed

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

upper

Jul 30, 2025

Upper · Passed

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

upper

Jul 23, 2025

Committee

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

upper

Jul 23, 2025

Introduced

Introduced in Senate

upper

1 primary · 1 co-sponsor