House Bill 2181
115th Congress(2017-2018)
Insurance Company Tax Modernization and Parity Act of 2017
Introduced
Introduced in House on Apr 26, 2017
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
2181
Congress
115
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
No House votes have been held for this bill.
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.
April 26, 2017
04/26/2017
Referred to the House Committee on Ways and Means.
04/26/2017
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:35:55 PM