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United States · Bill · HR

H.R. 2998 (100th)

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

referredUnited States· United States Congress· EN

Introduced

23 July 1987

Last action

23 July 1987 · Introduced

Status

Referred to House Committee on Ways and Means.

Sponsors

Rep. Daub, Hal [R-NE-2], Rep. Donnelly, Brian J. [D-MA-11], Rep. Lagomarsino, Robert J. [R-CA-19], Rep. Roe, Robert A. [D-NJ-8], Rep. Slaughter, D. French, Jr. [R-VA-7], Rep. Frank, Barney [D-MA-4], Rep. Pursell, Carl D. [R-MI-2], Rep. Gunderson, Steve [R-WI-3], Rep. Ritter, Don [R-PA-15], Rep. Wortley, George C. [R-NY-27], Sen. Smith, Bob [R-NH], Rep. Rogers, Harold [R-KY-5], Rep. Wolpe, Howard E. [D-MI-3], Rep. Porter, John Edward [R-IL-10], Rep. Conyers, John, Jr. [D-MI-13], Rep. Foglietta, Thomas M. [D-PA-1], Rep. Schuette, Bill [R-MI-10], Rep. Buechner, Jack [R-MO-2], Rep. Packard, Ron [R-CA-48], Rep. Feighan, Edward F. [D-OH-19], Rep. Collins, Cardiss [D-IL-7], Rep. Howard, James J. [D-NJ-3], Rep. Saxton, Jim [R-NJ-3], Rep. Herger, Wally [R-CA-2], Rep. Mrazek, Robert J. [D-NY-3], Rep. Ballenger, Cass [R-NC-10], Rep. Ridge, Thomas J. [R-PA-21], Rep. Johnson, Nancy L. [R-CT-5], Rep. Armey, Richard K. [R-TX-26]

Subjects

Taxation

Source updated

7 February 2024

Taxation

Official sourceView 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 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. 23 July 1987

    Introduced

    Introduced in House

    Source: IntroReferral

  2. 23 July 1987

    Introduced

    Referred to House Committee on Ways and Means.

    Source: IntroReferral

  3. 23 July 1987

    Introduced

    Introduced in House

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

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Documents

1 official file

Leesvertaling

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Sponsors

Related records

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Sources

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