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.
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in senate (Sep 28, 2016)
This bill 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.
What just happenedSep 28, 2016
Read twice and referred to the Committee on Finance.
Who’s behind it
- Introduced in SenateSep 28, 2016
- Sep 28, 2016IntroReferral
Read twice and referred to the Committee on Finance.
Finance Committee - Sep 28, 2016IntroReferral10000
Introduced in Senate