A bill to amend the Internal Revenue Code of 1986 to provide special rules for purposes of determining if financial guaranty insurance companies are qualifying insurance corporations under the passive foreign investment company rules.

12/30/2022, 2:34 AM

This bill sets forth special tax rules for determining whether financial guaranty insurance companies are qualifying insurance corporations under the passive foreign investment company rules.

Congress
117
Number
S - 3217
Introduced on
2021-11-17
# Amendments
0
Sponsors
+5
Cosponsors
+5

Variations and Revisions

11/17/2021
Text
PDF
XML

Status of Legislation

Bill Introduced
Introduced to House
House to Vote
Introduced to Senate
Senate to Vote

Purpose and Summary

This bill sets forth special tax rules for determining whether financial guaranty insurance companies are qualifying insurance corporations under the passive foreign investment company rules.

Alternative Names
Official Title as IntroducedA bill to amend the Internal Revenue Code of 1986 to provide special rules for purposes of determining if financial guaranty insurance companies are qualifying insurance corporations under the passive foreign investment company rules.
Policy Areas
Taxation
Potential Impact
Accounting and auditing•
Capital gains tax•
Financial services and investments•
Foreign and international corporations•
Securities•
Tax administration and collection, taxpayers•
Taxation of foreign income

Comments

Related

Bill Update Alert:  To amend the Internal Revenue Code of 1986 to provide special rules for purposes of determining if financial guaranty insurance companies are qualifying insurance corporations under the passive foreign investment company rules.
Bill Update Alert:  Inflation Reduction Act of 2022

Recent Activity

Latest Summary12/20/2021

This bill sets forth special tax rules for determining whether financial guaranty insurance companies are qualifying insurance corporations under the passive foreign investment company rules.

Latest Action11/17/2021
Read twice and referred to the Committee on Finance.