Status of Legislative Safe Harbor for Valuation of Employer Stock

In the past 1 1/2 months, both Houses of Congress passed a bill intended to provide a safe harbor if an outside expert did a valuation of the stock. I have not seen anything further about it. Did the President sign or veto the billl? If neither, doesn't the Constitution treat it as enacted if the President fails to take action (i.e., sign or veto) the bill?

I know the House just passed like 2 weeks ago by a wide margin the Retire Though Ownership Act.  I haven't heard if it was signed but leading up to it all the noise was the POTUS was favorable to the act. 

You best best is to see if the ESOP Association's legislative updates along with ESCA, which is the S Corp ESOP, group.   They are both very active on the legislative front. 

Today, Congress.gov shows seven House of Representatives actions on September 16.

https://www.congress.gov/bill/119th-congress/senate-bill/2403/all-actions

And shows an enrolled bill.

https://www.congress.gov/119/bills/s2403/BILLS-119s2403enr.pdf

But does not yet show anything for “became law” or even “to President”.

The parchment might not have been delivered to the President.

I express no view about whether the legislation or some part of it might be contrary to the Constitution of the United States of America.

Retire through Ownership Act was presented to the President on October 5, 2026:

https://www.congress.gov/bill/119th-congress/senate-bill/2403/all-actions

https://www.congress.gov/bill/119th-congress/house-bill/5169/related-bills

Lois Baker, thank you for your refresh, which shows an action not yet displayed when I looked.

So, Article I § 7’s “ten days (Sundays excepted)” began.

Unless the 119th Congress adjourns, the legislation seems likely to become a law.

“The amendments [of ERISA § 3(18)] “shall apply with respect to determinations described in [ERISA §] 3(18)(B) [as amended] “made on or after the date of enactment of this Act.”

@Peter Gulia FWIW, actions generally don't appear on Congress.gov until the day after they occur -- so even though that update is dated yesterday, it would not have been there until this morning.

So, counting 10 days from October 5 and excluding Sunday, the apparent deadline is October 16, subject to the constitutional rule concerning an adjournment that prevents return of the bill.