H.R. 2567 is a bill proposing changes to the Internal Revenue Code of 1986. It aims to establish special rules for determining whether financial guaranty insurance companies qualify as insurance corporations under the rules for passive foreign investment companies (PFICs)....
Simple Explanation
H.R. 2567 wants to change some rules about how certain insurance companies that do special kinds of money promises are checked, so it's easier to know if they're following the rules or not. They want to start using these new rules after the end of 2024.