Introduced
S. 1987
Introduced in Senate · June 20, 2025June 9, 2025
Mr. Cassidy (for himself and Mr. Marshall) introduced the following bill; which was read twice and referred to the Committee on Finance
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.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. Treatment of financial guaranty insurance companies as qualifying insurance corporations under passive foreign investment company rules.
- (a) In general.— Section 1297(f)(3) of the Internal Revenue Code of 1986 is amended by adding at the end the following new subparagraph: