To amend the Internal Revenue Code of 1986 to provide the same insurance reserve treatment to financial guaranty insurance as applies to mortgage guaranty insurance, lease guaranty insurance, and tax-exempt bond insurance.

Summary

Amends the Internal Revenue Code provisions relating to an insurance company taxable income special deduction and income account to apply to companies that write financial guarantee insurance certain rules currently applied to companies that write mortgage guaranty insurance, lease guaranty insurance, or insurance on obligations the interest on which is excludable from gross income under specified provisions.

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3 official files

• Introduced in House (text)

  Introduced in House · EN · 24 June 1996

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• Introduced in House (PDF)

  Introduced in House · EN · 24 June 1996

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• Introduced in House

  summary · EN · 24 June 1996

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