Secure Family Futures Act of 2025

[Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [H.R. 2547 Introduced in House (IH)] <DOC> 119th CONGRESS 1st Session H. R. 2547 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. _______________________________________________________________________ IN THE HOUSE OF REPRESENTATIVES April 1, 2025 Mr. Feenstra (for himself, Ms. Sewell, and Mr. Flood) introduced the following bill; which was referred to the Committee on Ways and Means _______________________________________________________________________ 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. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Secure Family Futures Act of 2025''. SEC. 2. DEBT NOT TREATED AS CAPITAL ASSET FOR APPLICABLE INSURANCE COMPANIES. (a) Exclusion From Capital Assets.--Section 1221(a) of the Internal Revenue Code of 1986 is amended by striking ``or'' at 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: ``(9) any note, bond, debenture, or other evidence of indebtedness held by an applicable insurance company.''. (b) Applicable Insurance Company Defined.--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: ``(4) Applicable insurance company.--For purposes of subsection (a)(9), the term `applicable insurance company' means, with respect to any taxable year-- ``(A) any insurance company other than an insurance company-- ``(i) with respect to