1. Short title This Act may be cited as the Catastrophic Risk Transfer Act of 2023 or the CART Act of 2023 . 2. Taxation of catastrophic risk transfer companies (a) In General Subchapter M of chapter 1 of the Internal Revenue Code of 1986 is amended by adding at the end the following new part: V Catastrophic risk transfer companies Sec. 860M. Catastrophic risk transfer companies. Sec. 860N. Taxation of catastrophic risk transfer companies. Sec. 860O. Taxation of security holders of catastrophic risk transfer company