Secure Family Futures Act of 2024

[AI summary unavailable — showing source text] [Congressional Bills 118th Congress] [From the U.S. Government Publishing Office] [S. 4740 Introduced in Senate (IS)] <DOC> 118th CONGRESS 2d Session S. 4740 To amend the Internal Revenue Code of 1986 to exclude debt held by certain insurance companies from capital assets. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES July 23, 2024 Mr. Tillis (for himself and Mr. Casey) 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 exclude debt held by certain insurance companies from capital assets. 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 2024''. 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-- (1) by striking ``or'' at the end of paragraph (7); (2) by striking the period at the en…