S 1987
A bill 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.
Jurisdiction
US Congress
Session
119th Congress (2025-2026)
Last updated at
Jun 14, 2026, 8:39 AM
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
This bill amends the Internal Revenue Code to clarify how financial guaranty insurance companies are treated under passive foreign investment company (PFIC) rules. Specifically, it establishes special rules to determine if these companies qualify as ‘qualifying insurance corporations,’ focusing on their financial liabilities and exposure ratios. The bill also requires reporting of certain financial information and provides a grace period for some financial guaranty insurance companies regarding PFIC status.
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