• The Codification of “Economic Substance”
  • April 6, 2010 | Authors: Thomas A. Cullinan; Mary E. Monahan; David A. Roby
  • Law Firms: Sutherland Asbill & Brennan LLP - Atlanta Office ; Sutherland Asbill & Brennan LLP - Washington Office
  • On March 25, 2010, both the U.S. House of Representatives and the U.S. Senate passed the final piece of the health care package, the Health Care and Education Reconciliation Act of 2010 (the Act). Included in the bill is a statutory codification of the “economic substance” doctrine. Various forms of codification of the doctrine have been under consideration by Congress since 1999 and have been on the verge of enactment on several occasions during the last decade, but it will now be a reality as soon as the President applies the necessary signature.