II 118th CONGRESS 1st Session S. 1787 IN THE SENATE OF THE UNITED STATES June 1, 2023 Mr. Menendez (for himself and Mr. Cassidy ) introduced the following bill; which was read twice and referred to the Committee on Finance A BILL To amend the Internal Revenue Code of 1986 to provide special rules for purposes of determining if financial guaranty insurance companies are qualifying insurance corporations under the passive foreign investment company rules.