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HR 5095 100th Congress House Taxation Business and commerce Catastrophic health insurance Health Health insurance Income tax Insurance Life insurance Long-term care Tax exclusion

A bill to amend the Internal Revenue Code of 1986 with respect to the treatment of certain amounts paid under life insurance contracts on account of illness or disability.

Introduced: July 26, 1988 Introduced by: Schumer, Charles E. Democratic · New York See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 26, 1988
Referred to House Committee on Ways and Means.
Jul 26, 1988
Introduced in House
 Plain-English summary Congressional Research Service

Amends the Internal Revenue Code to treat as tax-excludible compensation for injuries or sickness any amounts received as health care benefits under a life insurance contract that are used in connection with: (1) a physical or mental condition requiring hospitalization for 150 days or longer; or (2) long-term or terminal physical or mental impairment of the taxpayer.

What's happening now July 26, 1988

Referred to House Committee on Ways and Means.

 Committees of jurisdiction 1