S 3424
114th Congress
Senate
Taxation
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.
Introduced: September 28, 2016
Introduced by:
Warner, Mark R.
Democratic
· Virginia
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Sep 28, 2016
Read twice and referred to the Committee on Finance.
Sep 28, 2016
Introduced in Senate
Plain-English summary
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.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1