To amend the Internal Revenue Code of 1986 to clarify the exemption from tax for small property and casualty insurance companies, and for other purposes.

Summary

Amends Internal Revenue Code provisions concerning tax-exempt insurance companies to: (1) require such a tax-exempt company to be solely and directly owned by its policyholders and operate only in one State; and (2) increase from $350,000 to $531,000 (adjusted annually for inflation) the maximum amount of premiums that may be written annually by such a company in order to remain tax-exempt.

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Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 27 July 2000

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• Introduced in House (PDF)

  Introduced in House · EN · 27 July 2000

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• Introduced in House

  summary · EN · 27 July 2000

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