HR 5707
Secure Family Futures Act of 2023
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Bill overview
The Secure Family Futures Act of 2023 modifies the Internal Revenue Code to change how certain debts held by insurance companies are treated for tax purposes. Specifically, it excludes notes, bonds, debentures, and other similar evidence of indebtedness held by these companies from being classified as capital assets. This change aims to provide a clearer tax treatment for insurance companies’ debt obligations. The bill also includes provisions for a transition rule regarding capital loss carryovers.
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Primary sponsor
Cosponsors
Bill, Jr. Pascrell
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