The record

LegislationLegislation· Oct 2026
S 2403 Signed into law

Sponsored by Roger Marshall (R)

Retire through Ownership Act

Lets ESOP fiduciaries use independent valuations for closely held company stock.

Tradeoff

Simplifies how employee stock ownership plans value private company shares. No direct budget impact.

What's in it

See official bill text

The Senate passed this by on October 9, 2025. The House passed it 401-14 on September 16, 2026, and it was signed into law on October 15, 2026.

  1. Senate

    Introduced

    (Jul 23, 2025)

  2. Senate

    Committee on Health, Education, Labor, and Pensions(Jul 23, 2025)

  3. Senate

    The Committee on Health, Education, Labor, and Pensions voted to send it to the floor

    Reported(Jul 30, 2025)

  4. Senate

    Passage of the bill

    Passed by (Oct 9, 2025)

    No individual votes were recorded.

  5. House

    Received from the Senate

    Received(Oct 17, 2025)

  6. House

    On Motion to and Pass

    Passed(Roll #314 · Sep 16, 2026)

    401 yeanay 14

  7. House

    Sent to the President

    (Oct 5, 2026)

  8. White House · Signature

    Signed

    Donald Trump (R)

  9. Enacted

    Became law(Oct 15, 2026)

Final passage· Sep 16, 2026· 119th Congress · 2025–2027