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HR 3399 111th Congress House Taxation Income tax deductions Insurance industry and regulation Life, casualty, property insurance Tax administration and collection, taxpayers

To amend the Internal Revenue Code of 1986 to permit the consolidation of life insurance companies with other companies.

Introduced: July 30, 2009 Introduced by: Larson, John B. Democratic · Connecticut See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 30, 2009
Referred to the House Committee on Ways and Means.
Jul 30, 2009
Introduced in House
 Plain-English summary Congressional Research Service

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.

What's happening now July 30, 2009

Referred to the House Committee on Ways and Means.

 Committees of jurisdiction 1