US Congress Senate Bill 991 (Prior Session Legislation)

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Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on May 20 2013 - 25% progression, died in committee
Action: 2013-05-20 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

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.

A bill to amend the Internal Revenue Code of 1986 to prevent the avoidance of tax by insurance companies through reinsurance with non-taxed affiliates.

Sen. Robert Menendez [D-NJ]

Date	Chamber	Action
2013-05-20	Senate	Read twice and referred to the Committee on Finance.

HB505 (Related) 2013-04-23 - Referred to the Subcommittee on Higher Education and Workforce Training.
HB2054 (Same As) 2013-05-20 - Referred to the House Committee on Ways and Means.

Type	Source
Summary	https://www.congress.gov/bill/113th-congress/senate-bill/991/all-info
Text	https://www.congress.gov/113/bills/s991/BILLS-113s991is.pdf