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S 2353 97th Congress Senate Taxation Business and commerce Business income tax Income tax Insurance Life insurance Tax administration

A bill entitled "The Life Insurance Taxation Act of 1982."

Introduced: April 1, 1982 See on congress.gov
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This bill died when the 97th Congress ended
It never became law before the 97th Congress (1981–1982) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 8, 1982
Committee on Finance requested executive comment from OMB; Treasury Department.
Apr 1, 1982
Read twice and referred to the Committee on Finance.
Apr 1, 1982
Introduced in Senate
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 Plain-English summary Congressional Research Service

Amends the Internal Revenue Code to set forth special temporary rules for the taxation of life insurance companies for 1982 and 1983.

Revises provisions relating to policies reinsured under modified coinsurance contracts. Specifies that prescribed policy and other contract liability requirements shall not include interest payable after enactment of this Act by a reinsured to a reinsurer in connection with a coinsurance contract.

Revises the method of computing the tax deductions for: (1) dividends to policyholders; (2) certain nonparticipating contracts; and (3) certain accident, health insurance, and group life insurance plans.

Revises the method of determining adjusted life insurance reserves.

Revises the method of computing the policyholder's shared investment yield, life insurance company taxable income, and net capital gain for companies filing consolidated returns. Specifies that the above method shall not apply to certain contract computation in effect before 1982.

States that the determination for taxable years before 1982 as to whether a contract is a coinsurance contract shall be made solely by reference to the terms of the contract.

What's happening now April 8, 1982

Committee on Finance requested executive comment from OMB; Treasury Department.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1
R
Grassley, Chuck
Iowa · May 6, 1982
Cite this page click to expand
APA
U.S. Congress. (2026). S. 2353: A bill entitled "The Life Insurance Taxation Act of 1982.". 97th Congress. Open America. https://openamerica.io/bill/97-S-2353/
MLA
"S. 2353: A bill entitled "The Life Insurance Taxation Act of 1982."." 97th Congress, 2026, Open America, https://openamerica.io/bill/97-S-2353/.
Bluebook (legal)
S. 2353, 97th Cong. (2026), https://openamerica.io/bill/97-S-2353/.
Markdown link
[S. 2353: A bill entitled "The Life Insurance Taxation Act of 1982."](https://openamerica.io/bill/97-S-2353/)
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