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United States · Bill · HR

H.R. 3252 (96th)

Product and Professional Liability Insurance Tax Equity Act of 1979

referredUnited States· United States Congress· EN

Introduced

27 March 1979

Last action

27 March 1979 · Introduced

Status

Referred to House Committee on Ways and Means.

Sponsors

Rep. Luken, Thomas A. [D-OH-1], Rep. St Germain, Fernand J. [D-RI-1], Rep. Bedell, Berkley W. [D-IA-6], Rep. Mottl, Ronald M. [D-OH-23], Rep. Mathis, Dawson [D-GA-2], Rep. Price, Melvin [D-IL-21], Rep. Young, Don [R-AK-At Large], Rep. Neal, Stephen L. [D-NC-5], Rep. Jenrette, John W., Jr. [D-SC-6], Rep. Madigan, Edward R. [R-IL-15], Rep. Russo, Martin A. [D-IL-3], Sen. Grassley, Chuck [R-IA], Rep. Hagedorn, Thomas M. [R-MN-2], Rep. McClory, Robert [R-IL-13], Rep. Boland, Edward P. [D-MA-2], Rep. Forsythe, Edwin B. [R-NJ-6], Rep. Davis, Robert W. [R-MI-11], Del. Won Pat, Antonio B. [D-GU-At Large], Rep. Nolan, Richard M. [D-MN-8], Rep. Leach, Claude (Buddy), Jr. [D-LA-4], Rep. Carr, Bob [D-MI-8], Rep. Kindness, Thomas N. [R-OH-8], Rep. McDonald, Lawrence P. [D-GA-7], Rep. Patten, Edward J. [D-NJ-15], Rep. Sensenbrenner, F. James, Jr. [R-WI-5], Rep. Murphy, Austin J. [D-PA-20], Rep. Kemp, Jack [R-NY-31], Rep. Railsback, Thomas F. [R-IL-19]

Subjects

Taxation

Source updated

2 September 2025

Taxation

Official sourceView documentsShare

Summary

Product and Professional Liability Insurance Tax Equity Act of 1979 - Amends the Internal Revenue Code to qualify trusts established for the payment of product liability claims as tax-exempt organizations. Allows an income tax deduction for contributions to such trusts, but limits the amount of such deduction to the reasonable cost to the taxpayer (but for such trust) for product liability insurance protection for the year.

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

Timeline

  1. 27 March 1979

    Introduced

    Referred to House Committee on Ways and Means.

    Source: IntroReferral

  2. 27 March 1979

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 27 March 1979

    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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