US Congress House Bill 3037 (Prior Session Legislation)

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Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on June 23 2017 - 25% progression, died in committee
Action: 2017-06-23 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Group Term Life Insurance Increase Act This bill amends the Internal Revenue Code to increase the limit on the amount of employer-provided group term life insurance that an employee may exclude from his or her gross income for income tax purposes. Currently, an employee may exclude from gross income up to $50,000 of the cost of such insurance plus any amount paid by the employee for the purchase of such insurance. The bill increases the $50,000 limit to $375,000, and adjusts such increased limit for inflation in taxable years beginning after 2017.

Group Term Life Insurance Increase Act

Rep. Michael Burgess [R-TX]

Date	Chamber	Action
2017-06-23	House	Referred to the House Committee on Ways and Means.
2017-06-23	House	Introduced in House

HB1012 (Related) 2017-02-13 - Referred to the House Committee on Ways and Means.
HB1 (Related) 2017-12-22 - Became Public Law No: 115-97. (TXT | PDF)
HR619 (Similar To) 2017-11-15 - Motion to reconsider laid on the table Agreed to without objection.
SB1880 (Related) 2017-09-27 - Read twice and referred to the Committee on Finance.
SB1938 (Related) 2017-10-05 - Read twice and referred to the Committee on Finance.

Type	Source
Summary	https://www.congress.gov/bill/115th-congress/house-bill/3037/all-info
Text	https://www.congress.gov/115/bills/hr3037/BILLS-115hr3037ih.pdf