Insurance Company Tax Modernization and Parity Act of 2017
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Apr 26, 2017)
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 just happenedApr 26, 2017
Referred to the House Committee on Ways and Means.
Who’s behind it
- Introduced in HouseApr 26, 2017
- Apr 26, 2017IntroReferralH11100
Referred to the House Committee on Ways and Means.
Ways and Means Committee - Apr 26, 2017IntroReferralIntro-H
Introduced in House
- Apr 26, 2017IntroReferral1000
Introduced in House