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United States · Bill · HR

H.R. 2251 (109th)

COLI Best Practices Act of 2005

referredUnited States· United States Congress· EN

Introduced

11 May 2005

Last action

11 May 2005 · Introduced

Status

Referred to the House Committee on Ways and Means.

Sponsors

Rep. Reynolds, Thomas M. [R-NY-26], Rep. Pomeroy, Earl [D-ND-At Large], Rep. Shaw, E. Clay, Jr. [R-FL-22], Rep. Johnson, Nancy L. [R-CT-5], Rep. Herger, Wally [R-CA-2], Rep. McCrery, Jim [R-LA-4], Rep. Camp, Dave [R-MI-4], Rep. Ramstad, Jim [R-MN-3], Rep. Nussle, Jim [R-IA-2], Rep. Johnson, Sam [R-TX-3], Rep. English, Phil [R-PA-3], Rep. Hayworth, J. D. [R-AZ-5], Rep. Weller, Jerry [R-IL-11], Rep. Hulshof, Kenny C. [R-MO-9], Rep. Lewis, Ron [R-KY-2], Rep. Foley, Mark [R-FL-16], Rep. Brady, Kevin [R-TX-8], Rep. Ryan, Paul [R-WI-1], Rep. Linder, John [R-GA-7], Rep. Beauprez, Bob [R-CO-7], Rep. Hart, Melissa A. [R-PA-4], Rep. Chocola, Chris [R-IN-2], Sen. Cardin, Benjamin L. [D-MD], Rep. Neal, Richard E. [D-MA-1], Rep. McNulty, Michael R. [D-NY-23], Rep. Jefferson, William J. [D-LA-2], Rep. Tanner, John S. [D-TN-8], Rep. Thompson, Mike [D-CA-4], Rep. Larson, John B. [D-CT-1], Rep. Terry, Lee [R-NE-2], Rep. Culberson, John Abney [R-TX-7], Rep. Gallegly, Elton [R-CA-24], Rep. Dent, Charles W. [R-PA-15], Rep. Putnam, Adam H. [R-FL-12], Rep. Gerlach, Jim [R-PA-6], Rep. Doolittle, John T. [R-CA-4], Rep. Boswell, Leonard L. [D-IA-3], Rep. Walden, Greg [R-OR-2], Rep. Ford, Harold E., Jr. [D-TN-9], Rep. Sessions, Pete [R-TX-17], Rep. Blumenauer, Earl [D-OR-3], Rep. Cantor, Eric [R-VA-7], Rep. Jones, Stephanie Tubbs [D-OH-11], Rep. King, Steve [R-IA-4], Rep. Alexander, Rodney [R-LA-5], Rep. Souder, Mark E. [R-IN-3], Rep. Pence, Mike [R-IN-6], Rep. Calvert, Ken [R-CA-41]

Subjects

Taxation

Source updated

15 August 2025

Taxation

Official sourceDownload fileView documentsShare

Summary

COLI Best Practices Act of 2005 - Amends the Internal Revenue Code to limit the tax exclusion for benefits paid by employer-owned life insurance contracts upon the death of an insured employee, with certain exceptions for directors and highly compensated employees and for proceeds paid to the heirs of an insured employee. Requires employers to provide written notice to employees of intent to insure their lives and obtain written consent from such employees to being insured under a company-owned life insurance contract. Imposes certain reporting and recordkeeping requirements for employer-owned life insurance contracts.

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

Timeline

  1. 11 May 2005

    Introduced

    Introduced in House

    Source: IntroReferral

  2. 11 May 2005

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 11 May 2005

    Introduced

    Referred to the House Committee on Ways and Means.

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Introduced in House (text)

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  • Introduced in House (text)

    Introduced in House · EN · 11 May 2005

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  • Introduced in House (PDF)

    Introduced in House · EN · 11 May 2005

    ViewDownloadOpen at official source

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  • Introduced in House

    summary · EN · 11 May 2005

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Sponsors

Showing 48 of 49 sponsors and actors.

Related records

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Sources

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