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H.R. 3019 · 109th Congress

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

Full title

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

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IntroducedPassed one chamberPassed both chambersBecame law (gold)Resolution agreed to (full, dark)Failed or vetoed (gray)

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Never voted on. It didn't reach a floor vote before the 109th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

Amends the Internal Revenue Code to: (1) allow affiliated life and non-life insurance companies to file consolidated tax returns; (2) phase in, between 2005 and 2011, the full application of losses of affiliated non-life insurance companies against the taxable income of an affiliated life insurance company; and (3) automatically waive the five-year waiting…

What it does: CRS summary · Introduced in House · Jun 21, 2005

Amends the Internal Revenue Code to: (1) allow affiliated life and non-life insurance companies to file consolidated tax returns; (2) phase in, between 2005 and 2011, the full application of losses of affiliated non-life insurance companies against the taxable income of an affiliated life insurance company; and (3) automatically waive the five-year waiting period applicable to affiliated non-life insurance companies for offset of their losses against life insurance company income.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

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

Latest action (Jun 21, 2005): Referred to the House Committee on Ways and Means.

Policy area: Taxation · Origin: House · Introduced: Jun 21, 2005

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.