HR 134
102th Congress
House
Taxation
Critically ill
Income tax
Life insurance
Survivors' benefits
Tax exclusion
Terminal care
To amend the Internal Revenue Code of 1986 with respect to the tax treatment of payments under life insurance contracts to terminally ill individuals.
Introduced: January 3, 1991
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 3, 1991
Referred to the House Committee on Ways and Means.
Jan 3, 1991
Introduced in House
Plain-English summary
Amends the Internal Revenue Code to provide that payment under a life insurance contract to an insured who is terminally ill be treated as a death benefit, making such payment eligible for exclusion from gross income.
Provides that any reference to life insurance shall be treated as referring to a qualified terminal illness rider. Provides for the tax treatment of such riders. Describes such a rider as one which provides for payments to an insured upon the insured's becoming terminally ill.
What's happening now
Referred to the House Committee on Ways and Means.
Committees of jurisdiction
1