To amend the Internal Revenue Code of 1986 to prevent the use of reinsurance with foreign persons to enable domestic nonlife insurance companies to evade United States income taxation.

Summary

Amends the Internal Revenue Code to provide, with specified exceptions, that if a domestic person reinsures a United States risk with a related foreign reinsurer (as defined by this Act) then: (1) such person's investment income shall incur certain increases; and (2) certain excise taxes shall not apply to the foreign reinsurer's premiums.

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

Timeline

1. 5 April 2000

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 5 April 2000

   Introduced

   Introduced in House

   Source: IntroReferral

3. 5 April 2000

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 5 April 2000 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 5 April 2000

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 5 April 2000

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 5 April 2000

  Open at official source

Sponsors

• Rep. Johnson, Nancy L. [R-CT-6] · R · Sponsor
• Richard Neal · D · Sponsor
• Rep. Matsui, Robert T. [D-CA-3] · D · Sponsor
• Rep. Kanjorski, Paul E. [D-PA-11] · D · Cosponsor
• Rep. Thurman, Karen L. [D-FL-5] · D · Cosponsor
• PETER DEFAZIO · D · Cosponsor
• Rep. Stark, Fortney Pete [D-CA-9] · D · Cosponsor
• Rep. Green, Mark [R-WI-8] · R · Cosponsor
• Rep. Castle, Michael N. [R-DE-At Large] · R · Cosponsor
• Rep. Ganske, Greg [R-IA-4] · R · Cosponsor
• · hswm00 · Standing

Related records

No cross-record relationships stored yet.