HR 2181
115th Congress
House
Taxation
Income tax deductions
Insurance industry and regulation
Life, casualty, property insurance
Securities
Tax administration and collection, taxpayers
Insurance Company Tax Modernization and Parity Act of 2017
Introduced: April 26, 2017
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 26, 2017
Referred to the House Committee on Ways and Means.
Apr 26, 2017
Introduced in House
Plain-English summary
Insurance Company Tax Modernization and Parity Act of 2017
This bill amends the Internal Revenue Code to allow affiliated life and non-life insurance companies to file consolidated tax returns. The bill also allows: (1) a phase-in of the full application of losses of affiliated non-life insurance companies against the taxable income of an affiliated life insurance company for taxable years beginning after December 31, 2017, and before January 1, 2024, and (2) an automatic waiver of 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
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1