{"bill":{"id":"119-hr-5169","congress":119,"type":"HR","number":5169,"title":"Retire through Ownership Act","originChamber":"House","introducedDate":"2025-09-08","sponsors":[{"bioguideId":"A000372","fullName":"Rep. Allen, Rick W. [R-GA-12]","party":"R","state":"GA","district":12}],"cosponsorsCount":4,"latestAction":{"actionDate":"2026-01-14","text":"Placed on the Union Calendar, Calendar No. 383."},"policyArea":"Labor and Employment","subjects":["Employee benefits and pensions","Financial services and investments","Securities"],"actions":[{"date":"2026-01-14","text":"Placed on the Union Calendar, Calendar No. 383.","type":"Calendars","chamber":"House floor actions","hasVote":false},{"date":"2026-01-14","text":"Reported (Amended) by the Committee on Education and Workforce. H. Rept. 119-448.","type":"Committee","chamber":"House floor actions","hasVote":false},{"date":"2026-01-14","text":"Reported (Amended) by the Committee on Education and Workforce. H. Rept. 119-448.","type":"Committee","chamber":"Library of Congress","hasVote":false},{"date":"2025-09-17","text":"Ordered to be Reported (Amended) by the Yeas and Nays: 35 - 0.","type":"Committee","chamber":"House committee actions","hasVote":false},{"date":"2025-09-17","text":"Committee Consideration and Mark-up Session Held","type":"Committee","chamber":"House committee actions","hasVote":false},{"date":"2025-09-08","text":"Referred to the House Committee on Education and Workforce.","type":"IntroReferral","chamber":"House floor actions","hasVote":false},{"date":"2025-09-08","text":"Introduced in House","type":"IntroReferral","chamber":"Library of Congress","hasVote":false},{"date":"2025-09-08","text":"Introduced in House","type":"IntroReferral","chamber":"Library of Congress","hasVote":false}],"summary":"<p><strong>Retire through Ownership Act</strong></p><p>This bill allows the fiduciary of an Employee Stock Ownership Plan (ESOP) to rely on a valuation provided by an independent valuation or business appraiser  in determining the fair market value&nbsp;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.&nbsp;</p><p>In general,&nbsp;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.</p><p>Under the bill, an independent appraiser or expert 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&nbsp;for a closely held business.&nbsp;</p>","updateDate":"2026-01-23T17:06:13Z"},"markets":[],"stateBills":[],"meta":{"sources":["congress.gov"],"latencyMs":477,"ts":"2026-04-19T09:51:04.921Z"},"nextActions":{"inspect":[],"related":[{"description":"Search related legislation","method":"GET","url":"/api/public/query-gov?q=Retire%20through%20Ownership%20Act"}]}}