US HB3399 | 2009-2010 | 111th Congress
Status
Spectrum: Bipartisan Bill
Status: Introduced on July 30 2009 - 25% progression, died in committee
Action: 2009-07-30 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on July 30 2009 - 25% progression, died in committee
Action: 2009-07-30 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Amends the Internal Revenue Code to allow affiliated life and non-life insurance companies to file consolidated tax returns. Allows: (1) the full application of losses of affiliated non-life insurance companies against the taxable income of an affiliated life insurance company to be phased in over five years; and (2) an automatic waiver of the the five-year waiting period applicable to affiliated non-life insurance companies for offset of their losses against life insurance company income.
Title
To amend the Internal Revenue Code of 1986 to permit the consolidation of life insurance companies with other companies.
Sponsors
| Rep. John Larson [D-CT] | Rep. Patrick Tiberi [R-OH] |
History
| Date | Chamber | Action |
|---|---|---|
| 2009-07-30 | Referred to the House Committee on Ways and Means. |
Subjects
Income tax deductions
Insurance industry and regulation
Life, casualty, property insurance
Tax administration and collection, taxpayers
Taxation
Insurance industry and regulation
Life, casualty, property insurance
Tax administration and collection, taxpayers
Taxation
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/111th-congress/house-bill/3399/all-info |
| Text | https://www.congress.gov/111/bills/hr3399/BILLS-111hr3399ih.pdf |
