HR 2547
Secure Family Futures Act of 2025
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Bill overview
This bill modifies the Internal Revenue Code to change how certain insurance companies are treated for tax purposes. Specifically, it excludes debt held by these companies from being considered capital assets, and it extends the length of time they can carry over capital losses to 10 years. The changes primarily affect insurance companies and their financial reporting.
Key provisions
- Excludes debt held by insurance companies from being classified as capital assets.
- Extends capital loss carryover period for insurance companies from 5 to 10 years.
- Defines ‘applicable insurance company’ to include specific types of insurance companies and exclude others.
- The changes apply to debt acquired after December 31, 2025.
- Capital loss carryovers must be attributable to foreign expropriation losses or incurred by an applicable insurance company.
Who is affected
- Insurance companies
- Taxpayers
- Financial institutions
Notable changes
- Expands the definition of ‘applicable insurance company’ to include more types of insurance companies.
- Increases the duration of capital loss carryovers for insurance companies.
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119th CONGRESS — 1st Session
H. R. 2547
IN THE HOUSE OF REPRESENTATIVES
A BILL
To amend the Internal Revenue Code of 1986 to exclude debt held by certain insurance companies from capital assets and to extend capital loss carryovers for such companies from 5 years to 10 years.
This Act may be cited as the Secure Family Futures Act of 2025
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orat the end of paragraph (7), by striking the period at the end of paragraph (8) and inserting
; or, and by adding at the end the following new paragraph:
Section 1221(b) of such Code is amended by redesignating paragraph (4) as paragraph (5) and by inserting after paragraph (3) the following new paragraph:
applicable insurance companymeans, with respect to any taxable year—
any insurance company other than an insurance company—
which is an organization to which section 833 applies for such taxable year, or
a face-amount certificate company registered under the Investment Company Act of 1940.
The amendments made by this section shall apply to notes, bonds, debentures, or other evidence of indebtedness acquired by an applicable insurance company (as defined in section 1221(b)(4)) of such Code after December 31, 2025.
was incurred by an applicable insurance company (as defined in section 1221(b)(4)).
The amendment made by this section shall apply to net capital losses arising in taxable years beginning after December 31, 2025.