Washington
A key lawmaker has introduced a bill that could extend the carryback period for life insurers’ 2008 and 2009 net operating losses.
The bill, S. 823, was introduced by Sen. Olympia Snowe, R-Maine, the highest-ranking member of the Senate Finance Committee, just before Congress departed for a 2-week recess.
The bill is a stand-alone version of a provision that was initially in the economic stimulus package, according to officials at the American Council of Life Insurers, Washington.