US HB3157 | 2011-2012 | 112th Congress
Status
Spectrum: Partisan Bill (Democrat 2-0)
Status: Introduced on October 12 2011 - 25% progression, died in committee
Action: 2011-10-12 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on October 12 2011 - 25% progression, died in committee
Action: 2011-10-12 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Amends the Internal Revenue Code to exclude from the taxable income of a life insurance company or other insurance company: (1) any non-taxed reinsurance premium; (2) any additional amount paid by an insurance company with respect to the reinsurance for which such non-taxed reinsurance premium is paid; and (3) any return premium, ceding commission, reinsurance recovered, or other amount received by an insurance company with respect to the reinsurance for which such non-taxed reinsurance premium is paid.
Title
To amend the Internal Revenue Code of 1986 to prevent the avoidance of tax by insurance companies through reinsurance with non-taxed affiliates.
Sponsors
Rep. Richard Neal [D-MA] | Rep. Bill Pascrell [D-NJ] |
History
Date | Chamber | Action |
---|---|---|
2011-10-12 | House | Referred to the House Committee on Ways and Means. |
2011-10-12 | House | Sponsor introductory remarks on measure. (CR E1822-1823) |
Same As/Similar To
SB1693 (Same As) 2011-10-12 - Read twice and referred to the Committee on Finance.
Subjects
Corporate finance and management
Insurance industry and regulation
Life, casualty, property insurance
Tax administration and collection, taxpayers
Taxation
Insurance industry and regulation
Life, casualty, property insurance
Tax administration and collection, taxpayers
Taxation
US Congress State Sources
Type | Source |
---|---|
Summary | https://www.congress.gov/bill/112th-congress/house-bill/3157/all-info |
Text | https://www.congress.gov/112/bills/hr3157/BILLS-112hr3157ih.pdf |