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Allows a fiduciary of an employee stock ownership plan (ESOP) to rely in good faith on the valuation methods described in IRS Revenue Ruling 59–60 (as in effect on the date of enactment) when determining whether an ESOP transaction meets ERISA’s “adequate consideration” standard. The rule applies to ERISA determinations made on or after the Act’s enactment date and reorganizes clause labels while adding this express reliance safe-harbor.
Received in the House.
Passed Senate with an amendment by Unanimous Consent.
Introduced July 23, 2025 by Roger Wayne Marshall · Last progress 4 months ago