US HB6032 | 2015-2016 | 114th Congress

Status

Spectrum: Partisan Bill (Democrat 1-0)
Status: Introduced on September 14 2016 - 25% progression, died in committee
Action: 2016-09-14 - Referred to the House Committee on Ways and Means.
Pending: House Ways And Means Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Data Breach Insurance Act This bill amends the Internal Revenue Code to allow a business tax credit for the purchase of qualified data breach insurance. The credit applies for five years and is equal to 15% of the annual premiums paid or incurred for the insurance in the ordinary course of the taxpayer's trade or business. Qualified data breach insurance is coverage provided by an insurance company for expenses or losses in connection with the theft, loss, disclosure, inaccessibility, or manipulation of data. Insurance does not qualify for the credit unless the taxpayer has adopted and is in compliance with: (1) the Framework for Improving Critical Infrastructure Cybersecurity published by the National Institute of Standards and Technology, or (2) any similar standard specified by the Internal Revenue Service.

Tracking Information

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Title

Data Breach Insurance Act

Sponsors


History

DateChamberAction
2016-09-14HouseReferred to the House Committee on Ways and Means.
2016-09-14HouseIntroduced in House

Subjects


US Congress State Sources


Bill Comments

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