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H.R. 5169

U.S. House•House Floor Calendar

Summary

H.R. 5169, the Retire through Ownership Act, was introduced in the House on Sep 8, 2025 by Rep. Rick Allen (R) with 4 co-sponsors. It last saw action on Jan 14, 2026: Placed on the Union Calendar, Calendar No. 383.

Record

Text

H.R. 5169 has 4 co-sponsors.

hb5169/introduced-in-house.txt
119 HR 5169 IH: Retire through Ownership Act
 U.S. House of Representatives
 2025-09-08
 text/xml
 EN
 Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
 I  119th CONGRESS  1st Session  H. R. 5169  IN THE HOUSE OF REPRESENTATIVES   September 8, 2025   Mr. Allen  introduced the following bill; which was referred to the  Committee on Education and Workforce    A BILL
To amend the Employee Retirement Income Security Act of 1974 to provide a clear definition of adequate consideration for certain closely held stock, and for other purposes.
1.
Short title
This Act may be cited as the   Retire through Ownership Act  .
2.
Amending adequate consideration definition
(a)
In General
Section 3(18) of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1002(18) ) is amended—
(1)
by redesignating clauses (i) and (ii) as subclauses (I) and (II), respectively;
(2)
by redesignating subparagraphs (A) and (B) as clauses (i) and (ii), respectively;
(3)
by inserting  (A)  before  The term ; and
(4)
by adding at the end the following:
(B)
For purposes of clause (ii) of subparagraph (A), a fiduciary of an employee stock ownership plan (as defined in section 407(d)(6)) may in good faith rely upon a valuation provided by an independent valuation or business appraiser if such expert or appraiser relied upon the principles and methodologies set forth in Internal Revenue Service Revenue Ruling 59–60 (as amplified, clarified, distinguished, or modified from time to time) in determining the fair market value of the asset.
 .
(b)
Effective Date
The amendments made by subsection (a) shall apply with respect to determinations described in section 3(18)(B) of the Employee Retirement Income Security Act of 1974 ( 29 U.S.C. 1002(18)(B) ) (as added by such subsection) that are made on or after the date of enactment of this Act.

Tracker

The tracker indicates the progress of this legislation as it moves through the legislative process.

  1. Introduced2025-09-08
  2. Passed House
  3. Passed Senate
  4. Conference
  5. To President
  6. Became Law

CRS Summary

The summaries are the Congressional Research Service’s, one per stage. Read them in full.

Introduced in House Sep 8, 2025

hb5169/introduced-in-house.md

Shown Here:
Introduced in House (09/08/2025)

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 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 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 for a closely held business.

Sponsors

Rep. Rick Allen (R) sponsors H.R. 5169, and 4 members have co-sponsored it.

Committees

H.R. 5169 went before 1 committee: Education and Workforce.

Education and Workforce
Education and Workforce
Reported By · Jan 14, 2026 · 824 Bills

Reports

1 committee report has been filed on H.R. 5169, the latest H. Rept. 119-448.

Actions

H.R. 5169 has taken 6 actions since Sep 8, 2025, the latest on Jan 14, 2026.

ChamberAction
Jan 14, 2026
House
Reported (Amended) by the Committee on Education and Workforce. H. Rept. 119-448.Education and Workforce Committee
Jan 14, 2026
House
Placed on the Union Calendar, Calendar No. 383.
Sep 17, 2025
House
Committee Consideration and Mark-up Session HeldEducation and Workforce Committee
Sep 17, 2025
House
Ordered to be Reported (Amended) by the Yeas and Nays: 35 - 0.Education and Workforce Committee
Sep 8, 2025
House
Introduced in House

Votes

H.R. 5169 has not gone to a roll call.

1 bill is related to H.R. 5169.

Titles

H.R. 5169 goes by 4 titles, 2 of them short titles.

  • Retire through Ownership Act — Short Title(s) as Reported to House
  • Retire through Ownership Act — Display Title
  • Retire through Ownership Act — Short Title(s) as Introduced
  • To amend the Employee Retirement Income Security Act of 1974 to provide a clear definition of adequate consideration for certain closely held stock, and for other purposes. — Official Title as Introduced

Lobbying

3 clients hired 4 firms and 115 registered lobbyists who named H.R. 5169 in 10 quarterly filings, 2025 to 2026. Reported under the Lobbying Disclosure Act; a filing’s income covers everything its registrant worked that quarter, so the amounts below are the filings’, not this bill’s.

Filed under Financial Institutions/Investments/Securities, Taxation/Internal Revenue Code, Health Issues, Retirement, Automotive Industry, Aviation/Airlines/Airports, Government Issues, Labor Issues/Antitrust/Workplace.

Clients

Who paid to be heard, by how many filings named the bill.

ClientBusinessStateFirmsFilingsReported
AMERICAN BENEFITS COUNCIL—District of Columbia25$140K
AMERICAN ASSOCIATION FOR JUSTICE—District of Columbia13—
CHAMBER OF COMMERCE OF THE U.S.A.—District of Columbia12—

Firms

Registrants who filed on the bill, by filings.

RegistrantClientsFilingsReported
AMERICAN ASSOCIATION FOR JUSTICE13—
DAVIS & HARMAN LLP13$140K
AMERICAN BENEFITS COUNCIL12—
CHAMBER OF COMMERCE OF THE U.S.A.12—

Lobbyists

Named on the filings that cite the bill. The 20 named most often, of 115.

LobbyistFirmsClientsFilings
ADAM MCMAHON113
CHARLOTTE MCBIRNEY113
CHRIS GASTON113
DANIEL HINKLE113
ELIZABETH FARRAR113
ELLI SCHANK113
HEATHER SAGER113
JULIA DUNCAN113
KENT MASON113
LINDA LIPSEN113
MICHAEL HADLEY113
ROBERT DAVIS113
STEPHEN COFFEY113
SUSAN STEINMAN113
VICTOR DIAZ113
ABELARDO TORRES112
ALEXA BRANSON112
AMANDA MAYS112
ANDREA PORWOLL112
ASHLEY GUM112

Filings

The documents themselves, on the Senate’s Lobbying Disclosure site, largest reported first.

ClientRegistrantPeriodReportedDocument
CHAMBER OF COMMERCE OF THE U.S.A.CHAMBER OF COMMERCE OF THE U.S.A.2025 fourth_quarter$18M4th Quarter - Report
CHAMBER OF COMMERCE OF THE U.S.A.CHAMBER OF COMMERCE OF THE U.S.A.2025 third_quarter$13.7M3rd Quarter - Report
AMERICAN ASSOCIATION FOR JUSTICEAMERICAN ASSOCIATION FOR JUSTICE2026 second_quarter$1.8M2nd Quarter - Report
AMERICAN ASSOCIATION FOR JUSTICEAMERICAN ASSOCIATION FOR JUSTICE2025 fourth_quarter$1.8M4th Quarter - Report
AMERICAN ASSOCIATION FOR JUSTICEAMERICAN ASSOCIATION FOR JUSTICE2026 first_quarter$1.5M1st Quarter - Report
AMERICAN BENEFITS COUNCILAMERICAN BENEFITS COUNCIL2025 third_quarter$220K3rd Quarter - Report
AMERICAN BENEFITS COUNCILAMERICAN BENEFITS COUNCIL2025 fourth_quarter$210K4th Quarter - Report
AMERICAN BENEFITS COUNCILDAVIS & HARMAN LLP2025 fourth_quarter$60K4th Quarter - Report
AMERICAN BENEFITS COUNCILDAVIS & HARMAN LLP2026 first_quarter$50K1st Quarter - Report
AMERICAN BENEFITS COUNCILDAVIS & HARMAN LLP2026 second_quarter$30K2nd Quarter - Report

Classification

The Congressional Research Service files H.R. 5169 under Labor and Employment, one of its 31 policy areas, and gives it 3 legislative subjects.

CRS Subjects

CRS assigns every bill one policy area from its 31; H.R. 5169’s is Labor and Employment.

hr5169/policy-areas.txt
Labor and EmploymentAgriculture and FoodAnimalsArmed Forces and National SecurityArts, Culture, ReligionCivil Rights and Liberties, Minority IssuesCommerceCongressCrime and Law EnforcementEconomics and Public FinanceEducationEmergency ManagementEnergyEnvironmental ProtectionFamiliesFinance and Financial SectorForeign Trade and International FinanceGovernment Operations and PoliticsHealthHousing and Community DevelopmentImmigrationInternational AffairsLawNative AmericansPublic Lands and Natural ResourcesScience, Technology, CommunicationsSocial WelfareSports and RecreationTaxationTransportation and Public WorksWater Resources Development

Legislative Subjects

H.R. 5169 carries 3 of CRS’s legislative subjects, from Employee benefits and pensions to Securities.

hr5169/subjects.txt
Employee benefits and pensionsFinancial services and investmentsSecurities

Constitutional authority

The clause the sponsor cites as Congress’s power to enact H.R. 5169, as entered in the Congressional Record.

[Congressional Record Volume 171, Number 146 (Monday, September 8, 2025)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. ALLEN:H.R. 5169.Congress has the power to enact this legislation pursuantto the following:clause 18 of section 8 of article 1 of the Constitution[Page H3892]

Source: congress.gov · legiscan.com