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HR 3157 112th Congress House Taxation Corporate finance and management Insurance industry and regulation Life, casualty, property insurance Tax administration and collection, taxpayers

To amend the Internal Revenue Code of 1986 to prevent the avoidance of tax by insurance companies through reinsurance with non-taxed affiliates.

Introduced: October 12, 2011 Introduced by: Neal, Richard E. Democratic · Massachusetts See on congress.gov
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 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 12, 2011
Referred to the House Committee on Ways and Means.
Oct 12, 2011
Sponsor introductory remarks on measure. (CR E1822-1823)
Oct 12, 2011
Introduced in House
 Plain-English summary Congressional Research Service

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.

What's happening now October 12, 2011

Referred to the House Committee on Ways and Means.

 Committees of jurisdiction 1