US HB2614 | 2019-2020 | 116th Congress
Status
Spectrum: Partisan Bill (Republican 1-0)
Status: Introduced on May 9 2019 - 25% progression, died in committee
Action: 2019-05-09 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on May 9 2019 - 25% progression, died in committee
Action: 2019-05-09 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]
Summary
Increases the limit on the amount of employer-provided group term life insurance that an employee may exclude from 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 2019.
Title
Group Term Life Insurance Increase Act
Sponsors
| Rep. Michael Burgess [R-TX] |
History
| Date | Chamber | Action |
|---|---|---|
| 2019-05-09 | House | Referred to the House Committee on Ways and Means. |
| 2019-05-09 | House | Introduced in House |
Subjects
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/116th-congress/house-bill/2614/all-info |
| Text | https://www.congress.gov/116/bills/hr2614/BILLS-116hr2614ih.pdf |
