S. 1366 · 110th Congress
A bill to amend the Internal Revenue Code of 1986 to permit the consolidation of life insurance companies…
Full title
A bill to amend the Internal Revenue Code of 1986 to permit the consolidation of life insurance companies with other companies.
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Never voted on. It didn't reach a floor vote before the 110th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
BunningSponsor4 cosponsors · 2 D, 2 R
3 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Amends the Internal Revenue Code to allow affiliated life and non-life insurance companies to file consolidated tax returns.
What it does: CRS summary · Introduced in Senate · May 10, 2007
Amends the Internal Revenue Code to allow affiliated life and non-life insurance companies to file consolidated tax returns.
Allows: (1) a phasein, between 2007 and 2013, of the full application of losses of affiliated non-life insurance companies against the taxable income of an affiliated life insurance company; 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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: A bill to amend the Internal Revenue Code of 1986 to permit the consolidation of life insurance companies with other companies.
Latest action (May 10, 2007): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: May 10, 2007
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.