A bill to amend the Internal Revenue Code of 1986 to permit the consolidation of life insurance companies with other companies.

Summary

Amends the Internal Revenue Code to include life insurance companies as an "includible corporation" for purposes of filing consolidated tax returns. Permits an affiliated group which includes at least one domestic insurance company that elects to file a consolidated return rather than pay tax under certain life insurance provisions to use a phased-in percentage of insurance company net operating loss in determining its own taxable income. (Permits unused loss carryover.) Provides for: (1) subsidiary stock basis adjustment; and (2) waiver of the five-year reconsolidation waiting period for certain formerly includible corporations which became nonincludible as a result of becoming a subsidiary of a nonincludible life insurance company.

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Timeline

1. 26 April 2001

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 26 April 2001

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 26 April 2001 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 26 April 2001

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 26 April 2001

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 26 April 2001

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Thompson, Fred [R-TN] · R · Sponsor
• Sen. Collins, Susan M. [R-ME] · R · Sponsor
• Sen. Conrad, Kent [D-ND] · D · Sponsor
• Sen. Frist, William H. [R-TN] · R · Sponsor
• Sen. Lincoln, Blanche L. [D-AR] · D · Sponsor
• Sen. DeWine, Mike [R-OH] · R · Sponsor
• Sen. Kerry, John F. [D-MA] · D · Sponsor
• Sen. Snowe, Olympia J. [R-ME] · R · Cosponsor
• Sen. Allard, Wayne [R-CO] · R · Cosponsor
• Sen. Torricelli, Robert G. [D-NJ] · D · Cosponsor
• · ssfi00 · Standing

Related records

• related to → To amend the Internal Revenue Code of 1986 to permit the consolidation of life insurance companies with other companies.