US Congress Senate Bill 3424 (Prior Session Legislation)

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Sponsorship: Partisan Bill (Democrat 1)
Status: Introduced on September 28 2016 - 25% progression, died in committee
Action: 2016-09-28 - Read twice and referred to the Committee on Finance.
Pending: Senate Finance Committee
Text: Latest bill text (Introduced) [PDF]

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. 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.

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. Mark Warner [D-VA]

Date	Chamber	Action
2016-09-28	Senate	Read twice and referred to the Committee on Finance.

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/senate-bill/3424/all-info
Text	https://www.congress.gov/114/bills/s3424/BILLS-114s3424is.pdf