To amend the Internal Revenue Code of 1986 to permit the consolidation of life insurance companies with other companies.
Latest action · Jul 30, 2009 Referred to the House Committee on Ways and Means.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedJul 30, 2009
- Passed HouseNot reached
- Passed SenateNot reached
- To the PresidentNot reached
- Became lawNot reached
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.
Cosponsors 1
Members who signed on, in the order they did. All signed on Jul 30, 2009.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| R-OH | Patrick J. Tiberi | Original | Jul 30, 2009 |
Actions 2
Everything that happened, newest first.
- Jul 30, 2009Introduced in House
- Jul 30, 2009Referred to the House Committee on Ways and Means.
Subjects
Assigned by the Library of Congress. Policy area: Taxation.
Text 1
Each version as it was printed, newest first.
- Jul 30, 2009Introduced in House
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov.