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HR 2420 99th Congress House Taxation Business and commerce Disabled Estate tax Income tax Insurance Life insurance Tax deductions Trusts and trustees

A bill to allow a deduction for the amount of the premiums paid on a life insurance contract the beneficiary of which is a trust established for the benefit of a disabled individual, and for other…

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A bill to allow a deduction for the amount of the premiums paid on a life insurance contract the beneficiary of which is a trust established for the benefit of a disabled individual, and for other purposes.

Introduced: May 8, 1985 See on congress.gov
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This bill died when the 99th Congress ended
It never became law before the 99th Congress (1985–1986) 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 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 8, 1985
Referred to House Committee on Ways and Means.
May 8, 1985
Introduced in House
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 Plain-English summary Congressional Research Service

Amends the Internal Revenue Code to allow a deduction for the amount of the premiums paid on a life insurance contract the beneficiary of which is a trust established for the benefit of a disabled individual. Requires the insurance contract to be on the life of the taxpayer, the taxpayer's spouse, or a former spouse. Limits the amount of the insurance contract to $100,000.

Sets forth rules for the establishment and operation of the trust for the benefit of a disabled individual. Provides that amounts distributed from such trust shall not be included in the gross income of the beneficiary of a qualified disabled individual's trust.

Provides that the proceeds of the insurance contract shall be excluded from the estate of the taxpayer, and includes in the gross estate of the income beneficiary of the trust the remaining portion of the corpus attributable to the insurance contract and any accumulated income attributable to such amount. Sets forth a formula for computing the estate tax on this amount.

What's happening now May 8, 1985

Referred to House Committee on Ways and Means.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1
D
Kaptur, Marcy
Ohio · Jul 10, 1985
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 2420: A bill to allow a deduction for the amount of the premiums paid on a life insurance contract the beneficiary of which is a trust established for the benefit of a disabled individual, and for other purposes.. 99th Congress. Open America. https://openamerica.io/bill/99-HR-2420/
MLA
"H.R. 2420: A bill to allow a deduction for the amount of the premiums paid on a life insurance contract the beneficiary of which is a trust established for the benefit of a disabled individual, and for other purposes.." 99th Congress, 2026, Open America, https://openamerica.io/bill/99-HR-2420/.
Bluebook (legal)
H.R. 2420, 99th Cong. (2026), https://openamerica.io/bill/99-HR-2420/.
Markdown link
[H.R. 2420: A bill to allow a deduction for the amount of the premiums paid on a life insurance contract the beneficiary of which is a trust established for the benefit of a disabled individual, and for other purposes.](https://openamerica.io/bill/99-HR-2420/)
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