Bill · S. 1335· Senate(119-S-1335)

Secure Family Futures Act of 2025

Age: 66 years

North Carolina

Introduced: 4/8/2025
Last activity: 4/8/2025 — Read twice and referred to the Committee on Finance.
Sponsored by: Thomas Tillis
Cosponsors: - 6 - 3

Taxation

Introduced
In Committee

What this bill would do

This bill, titled the "Secure Family Futures Act of 2025," proposes changes to the Internal Revenue Code of 1986. It seeks to exclude debt held by certain insurance companies from being treated as capital assets. The legislation also aims to extend the period for capital loss carryovers for these specific companies. Currently, these carryovers are limited to 5 years, but the bill would extend them to 10 years. These changes apply to "applicable insurance companies" as defined by the act.

Yes

Would business owners be better off under this?+3
The bill benefits insurance company owners by extending the period for capital loss carryovers.
Does this cut the tax on profits from selling investments?+3
The bill provides tax relief to insurance companies by extending the duration for which they can carry over capital losses.