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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.

2/8/2022, 11:40 PM

Congressional Summary of HR 5746

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.

Current Status of Bill HR 5746

Bill HR 5746 is currently in the status of Bill Introduced since February 3, 2020. Bill HR 5746 was introduced during Congress 116 and was introduced to the House on February 3, 2020.  Bill HR 5746's most recent activity was Referred to the House Committee on Ways and Means. as of February 3, 2020

Bipartisan Support of Bill HR 5746

Total Number of Sponsors
1
Democrat Sponsors
1
Republican Sponsors
0
Unaffiliated Sponsors
0
Total Number of Cosponsors
1
Democrat Cosponsors
0
Republican Cosponsors
1
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill HR 5746

Primary Policy Focus

Taxation

Potential Impact Areas

- Accounting and auditing
- Capital gains tax
- Financial services and investments
- Foreign and international corporations
- Securities
- Tax administration and collection, taxpayers
- Taxation of foreign income

Alternate Title(s) of Bill HR 5746

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.
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.

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