To amend title I of the Employee Retirement Income Security Act of 1974 to require qualifying employer securities to include interests in publicly traded partnerships.
Public Law 101-540 · H.R. 5872 · 101st Congress · began in the House
Signed by George H. W. Bush (R) on Nov 8, 1990 · Labor and Employment
Sponsor: Rep. Bill Clay (D-MO-1)
Cosponsors: None
Passage votes
- HouseUnanimous consent
- SenateVoice vote
Data notes
The final version of the law, as each chamber passed it. A chamber that passed it by voice vote or unanimous consent has no count. “Method not stated” means the record does not say how the chamber voted. Where the record has a member-by-member vote, the “Who voted for it” section shows who voted yea.
Summary
The Congressional Research Service’s plain-language summary of what the law does.
Amends the Employee Retirement Income Security Act of 1974 to include under the definition of qualifying employer security (in addition to a stock or a marketable obligation) an interest in an existing publicly traded partnership. Requires such an interest to satisfy certain requirements as to maximum percentage held by plan and minimum percentage held by persons independent of the plan, in the case of a plan other than an eligible individual account plan.
Committees
The committees the bill was sent to, and what each did with it.
Data notes
A committee links to its page only where it exists in the current Congress; older and renamed committees are named without a link.
Timeline
From introduction to signing, newest first: the committees, the floor and the president. 11 actions.
- Nov 8, 1990Became lawBecame law · Became Public Law No: 101-540.
- Became lawBecame law · Signed by President.
- Oct 31, 1990PresidentPresident · Presented to President.
- Oct 25, 1990FloorFloor · Passed Senate without amendment by Voice Vote.
- Oct 22, 1990FloorFloor · Motion to reconsider laid on the table Agreed to without objection.
- FloorFloor · On passage Passed without objection.
- FloorFloor · Mr. Clay asked unanimous consent to discharge from committee and consider.
- FloorFloor · Considered by unanimous consent.
- CommitteeCommittee · Discharged from House Education and Workforce Committee
- Oct 19, 1990CommitteeCommittee · Referred to House Education and Workforce Committee
- IntroducedIntroduced · Introduced in the House
Data notes
Shows the introduction, each committee and subcommittee step the source dates (referral, hearings, markup, report, discharge), and the floor, conference, presidential and became-law steps. Calendar placements, messages between the chambers, amendments and committee report numbers are not shown for laws before the 108th Congress. Two entries the source lists twice are shown once.
Official record
The bill’s full text and every action, including introduction and committee steps, are on Congress.gov. Data through Oct 7, 2026.