US HB5169

Amends the Employee Retirement Income Security Act of 1974 (ERISA) to clarify the definition of "adequate consideration" for valuing closely held stock in employee stock ownership plans (ESOPs)

Allows ESOP fiduciaries to rely in good faith on valuations from independent valuation experts or business appraisers who use IRS Revenue Ruling 59-60 methodologies for determining fair market value

Preserves the Secretary of Labor's existing regulatory authority over "adequate consideration" without expanding it, and maintains fiduciary obligations under ERISA Section 404

Applies to valuation determinations made on or after the date of enactment