Secure Family Futures Act of 2025

Tax rules for certain insurance companies

This bill would change how some insurance companies are taxed. It would say that bonds, notes, and similar debt bought after December 31, 2025 by qualifying insurers would not be treated as capital assets. The bill would define which insurers qualify and would exclude insurers with certain small‑insurer tax elections, some foreign insurers, and organizations covered by section 833, but would include certain face‑amount certificate companies. It would also let qualifying net capital losses (including certain foreign expropriation losses or losses incurred by those insurers) be carried over and used for up to ten taxable years. The carryover change would apply to net capital losses arising in tax years beginning after December 31, 2025.