U.S. Congress legislation · 119th Congress
SB5477: Federal Receivership Fairness Act
Status: In committee, September 23, 2026
A bill to amend the Internal Revenue Code of 1986 to provide for certain rules regarding determination of tax in the case of a receivership.
What the bill says
To amend the Internal Revenue Code of 1986 to provide for certain rules regarding determination of tax in the case of a receivership.
From the introduced text, September 23, 2026:
A BILL To amend the Internal Revenue Code of 1986 to provide for certain rules regarding determination of tax in the case of a receivership. SECTION 1. Short title This Act may be cited as the Federal Receivership Fairness Act . SECTION 2. Determination of tax liability of receivership estate (a) In general Subchapter B of chapter 70 of the Internal Revenue Code of 1986 is amended by adding at the end the following new section: SECTION 6874. Determination of Federal tax liability by courts (a) In general Except as provided in subsection (b), the court appointing a receiver in any receivership proceeding before any court of the United States may determine the amount or legality of any Federal tax, any fine or penalty relating to such a tax, or any addition to such tax, whether or not previously assessed, whether or not paid, and whether or not contested before and adjudicated by a judicial or administrative tribunal of competent jurisdiction. (b) Exceptions The court described in subsection (a) shall not determine-- (1) the amount or legality of any Federal tax, fine, penalty, or addition to tax if such amount or legality was contested before and adjudicated by a judicial or administrative tribunal of competent jurisdiction before the commencement of the receivership, (2) any right of the receivership estate to …
Sponsors
- Young, Todd (R) · primary sponsor
- Warner, Mark (D)
Latest actions
- : Read twice and referred to the Committee on Finance.
- : Introduced in Senate
Subjects: Taxation
Common questions
- What is SB5477?
- SB5477 is a bill in Congress (119th Congress): Federal Receivership Fairness Act.
- What does SB5477 do?
- In its own words: To amend the Internal Revenue Code of 1986 to provide for certain rules regarding determination of tax in the case of a receivership.
- What is the status of SB5477?
- In committee as of September 23, 2026. Latest action: Read twice and referred to the Committee on Finance. (September 23, 2026).
- Who sponsored SB5477?
- Young, Todd (R), with 1 co-sponsor.
- Where is the official record for SB5477?
- On the Congress website: https://www.congress.gov/bill/119th-congress/senate-bill/5477
Source: official Congress record. Tracked by Delilah, AI for legislation across all 50 states and Congress.