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HR 2547
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Secure Family Futures Act of 2025

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.

Introduced Apr 1, 2025

Latest action (Apr 1, 2025) Referred to the House Committee on Ways and Means.

Referred to
Ways and Means Committee
Policy area
Taxation

Summary

This bill would amend the Internal Revenue Code to change how certain insurance companies treat debt for tax purposes. It would exclude debt held by applicable insurance companies (a defined category of insurers) from being classified as capital assets. The bill would also extend the period that applicable insurance companies can carry over capital losses from five years to ten years. These changes would apply to debt acquired after December 31, 2025, and to net capital losses arising in taxable years beginning after December 31, 2025.

AI-generated plain-language summary of the bill text — neutral, and may be imperfect. See the full text below for the exact wording.

Sponsor (1)
52 cosponsors

Money behind the sponsor

Top reported contributors to Randy Feenstra’s campaign committee (2024 cycle) — who funds the bill’s sponsor, not a claim about this bill. Data from FEC.

  • NULL $38,384
  • MARQUIS MANAGEMENT INC. $21,800
  • BGR GROUP $15,800
  • DOLL DISTRIBUTING $13,700
  • FRONTIER BANK $13,450

Organizations whose employees gave the most — itemized individual contributions grouped by the donor’s reported employer (FEC Schedule A). Full finance for Randy Feenstra → · Outside spending →

Actions (2)
  1. Apr 1, 2025 Referred to the House Committee on Ways and Means. · house
  2. Apr 1, 2025 Introduced in House

Similar bills (6)

Bills with similar text or summary — includes reintroductions across Congresses. Ranked by semantic similarity of the bill text (computed locally); a neutral discovery aid, not a claim the bills are duplicates.

  • S 1335 — Secure Family Futures Act of 2025 · Introduced Apr 8, 2025 · Cong. 119 91%
  • HR 2918 — Family Business Legacy Act of 2025 · Introduced Apr 14, 2025 · Cong. 119 73%
  • HR 169 — Prevent Family Fire Act of 2025 · Introduced Jan 3, 2025 · Cong. 119 65%
  • HR 9383 — Small Business and Consumer Credit Act of 2026 · Introduced Jun 22, 2026 · Cong. 119 64%
  • HR 1296 — Expanding Child Care Access Act of 2025 · Introduced Feb 13, 2025 · Cong. 119 64%
  • HR 2036 — Credit for Caring Act of 2025 · Introduced Mar 11, 2025 · Cong. 119 63%

Text versions (1)
  • Introduced in House · Apr 1, 2025

Only one text version is on file, so there’s no earlier version to compare against yet.

Full text

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 which an election is in effect under section 831(b)(2)(A)(iii) or 835(a) for such taxable year,

“(ii) which is a foreign corporation described in section 842, or

“(iii) which is an organization to which section 833 applies for such taxable year, or

“(B) a face-amount certificate company registered under the Investment Company Act of 1940.”.

(c) Effective Date.—The amendments made by this section shall apply to notes, bonds, debentures, or other evidence of indebtedness acquired by an applicable insurance company (as defined in section 1221(b)(4)) of such Code after December 31, 2025.

SEC. 3. CAPITAL LOSS CARRYOVERS INCURRED BY APPLICABLE INSURANCE COMPANIES ALLOWED FOR 10 YEARS.

(a) In General.—Section 1212(a)(1)(C) of the Internal Revenue Code of 1986 is amended to read as follows:

“(C) a capital loss carryover to each of the 10 taxable years succeeding the loss year, but only to the extent such loss—

“(i) is attributable to a foreign expropriation loss, or

“(ii) was incurred by an applicable insurance company (as defined in section 1221(b)(4)).”.

(b) Effective Date.—The amendment made by this section shall apply to net capital losses arising in taxable years beginning after December 31, 2025. <all>

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