,i  #aafth ,,congress  #ast ,session    
,h4 ,r4 #deih  ,,in ,,the ,,house ,,of  
,,representatives  ,october #a1         
#bjai,mr4 ,suozzi 7for himself and ,mr4 
,holding7 introduced the following bill2
 which was referred to the ,committee on
 ,ways and ,means  ,a ,,bill  ,to amend 
the ,internal ,revenue ,code of #aihf to
 provide an exemption from ,,firpta for 
interests held by certain foreign       
insurance companies4  #a4 ,,firpta      
exemption for interests held by certain 
foreign insurance companies  7a7 ,in    
general ,section #hig7l77#a7 of the     
,internal ,revenue ,code of #aihf is    
amended-- 7#a7 by striking a qualified  
foreign pension fund shall not and      
inserting a qualified foreign entity    
shall not2 and  7#b7 by striking held by
 a qualified foreign pension fund shall 
be treated as such a fund and inserting 
held 7directly or indirectly7 by one or 
more qualified foreign entities shall be
 treated as such an entity4  7b7        
,qualified foreign entity ,section      

#hig7l7 of such ,code is amended by     
redesignating paragraphs 7#b7 and 7#c7  
as paragraphs 7#c7 and 7#d71            
respectively1 and by inserting after    
paragraph 7#a7 the following new        
paragraph3  7#b7 ,qualified foreign     
entity ,for purposes of this subsection1
 the term qualified foreign entity      
means-- 7,a7 any qualifying insurance   
corporation 7as defined in section      
#abig7;f77#a771 and  7,b7 any qualified 
foreign pension fund4  4  7c7 ,clerical 
amendment ,the heading of section       
#hig7l7 is amended by striking          
,qualified ,foreign ,pension ,funds and 
inserting ,certain ,foreign ,entities4  
7d7 ,effective date ,the amendments made
 by this section shall apply to         
dispositions and distributions after the
 date of the enactment of this ,act4