H.R. 1810, To amend the Internal Revenue Code of 1986 to permit the consolidation of life insurance companies with other companies

• This item is from the 110th Congress (2007-2008) and is no longer current. Comments, voting, and wiki editing have been disabled, and the cost/savings estimate has been frozen.

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H.R. 1810 would amend the Internal Revenue Code of 1986 to permit the consolidation of life insurance companies with other companies.

Detailed Summary

Amends the Internal Revenue Code to: (1) allow affiliated life and non-life insurance companies to file consolidated tax returns; (2) phase in, between 2007 and 2013, the full application of losses of affiliated non-life insurance companies against the taxable income of an affiliated life insurance company; and (3) automatically waive the five-year waiting period applicable to affiliated non-life insurance companies for offset of their losses against life insurance company income.

Status of the Legislation

Latest Major Action: 3/29/2007: Referred to House committee. Status: Referred to the House Committee on Ways and Means.

Points in Favor

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Points Against

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