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United States · Bill · HR

H.R. 2132 (101st)

To amend the Internal Revenue Code of 1986 to exclude from gross income amounts otherwise includible on the surrender of cancellation of any life insurance policy which are used to pay long-term care insurance premiums.

referredUnited States· United States Congress· EN

Introduced

26 April 1989

Last action

26 April 1989 · Introduced

Status

Referred to the House Committee on Ways and Means.

Sponsors

Rep. Slaughter, D. French, Jr. [R-VA-7], Rep. Vucanovich, Barbara F. [R-NV-2], Rep. Fawell, Harris W. [R-IL-13], Rep. Hiler, John Patrick [R-IN-3], Rep. Weber, Vin [R-MN-2], Rep. Courter, Jim [R-NJ-12], Rep. Bentley, Helen Delich [R-MD-2], Rep. Dannemeyer, William E. [R-CA-39], Rep. Gunderson, Steve [R-WI-3], Rep. Lewis, Thomas F. [R-FL-12], LAMAR SMITH, Rep. Hastert, J. Dennis [R-IL-14], Rep. Saiki, Patricia [R-HI-1], Rep. Armey, Richard K. [R-TX-26], Rep. Smith, Bob [R-NH-1], Rep. Roe, Robert A. [D-NJ-8], Rep. Shumway, Norman D. [R-CA-14], Rep. Schuette, Bill [R-MI-10], Rep. Ridge, Thomas J. [R-PA-21], Rep. Ballenger, Cass [R-NC-10], Rep. Bliley, Tom [R-VA-3], Rep. Packard, Ron [R-CA-43], Rep. Holloway, Clyde [R-LA-8], F. SENSENBRENNER, Rep. Meyers, Jan [R-KS-3], Rep. Saxton, Jim [R-NJ-13], Rep. Herger, Wally [R-CA-2], PETER DEFAZIO, Rep. Walsh, James T. [R-NY-27], Rep. Smith, Denny [R-OR-5]

Subjects

Taxation

Source updated

7 February 2024

Taxation

Official sourceDownload fileView documentsShare

Summary

Amends the Internal Revenue Code to exclude from the gross income of an individual otherwise taxable amounts derived from the whole or partial surrender, cancellation, or exchange of any life insurance policy if: (1) the individual is age 65 or older on the date of the transaction; and (2) the amounts in question are used to pay premiums for an insurance policy covering at least 12 months of medically necessary nonemergency care for the individual or a spouse meeting the same 65-year age requirement.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 26 April 1989

    Introduced

    Referred to the House Committee on Ways and Means.

    Source: IntroReferral

  2. 26 April 1989

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 26 April 1989

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

2 official files

Introduced in House (text)

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Sponsors

Related records

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Sources

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