- Stage
- In committee
- Started in
- House
- Sponsors
- 3
- Latest action
- Feb 21, 2025
What it does
The CART Act of 2025 would amend the Internal Revenue Code to create a special tax framework for catastrophic risk transfer companies—domestic corporations licensed as special purpose insurers that issue securities to cover large, low-probability losses like natural disasters. These companies would be subject to specific income, distribution, and deduction rules, including a requirement to pay out at least 90% of taxable income as dividends and restrictions on certain tax deductions, while allowing deductions for professional expenses related to issuing securities and managing risk. The bill aims to ensure these entities maintain sufficient capital to cover catastrophic insurance losses by…
No official summary is available here. This one was written by AI from the bill’s text.
Where it stands
Introduced (Done)
Committee (Current step)
Floor (Not started)
Law (Not started)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
Where it goes next
While a bill can still move, the questions are about people and money.