- Not enactedThe President has not signed this bill
- The senate has not voted
- The house has not voted
Committee on Ways and MeansIntroducedJuly 30th, 2009
- house Committees
Bill DetailsOfficial information provided by the Congressional Research Service. Learn more or make a suggestion.
The Congressional Research Service writes summaries for most legislation. These summaries are listed here. Countable will update some legislation with a revised summary, title or other key elements.
To amend the Internal Revenue Code of 1986 to permit the consolidation of life insurance companies with other companies.
Amends the Internal Revenue Code to allow affiliated life and non-life insurance companies to file consolidated tax returns. Allows: (1) the full application of losses of affiliated non-life insurance companies against the taxable income of an affiliated life insurance company to be phased in over five years; and (2) an automatic waiver of the the five-year waiting period applicable to affiliated non-life insurance companies for offset of their losses against life insurance company income.