To clarify the tax treatment of intermodal containers, to revise the tax treatment of small property and casualty insurance companies, and for other purposes.

Summary

Title I: Tax Treatment of Certain Cargo Containers - Amends the Internal Revenue Code to provide for the treatment of qualified intermodal cargo containers for purposes of the investment tax credit. Title II: Other Provisions - Allows a small insurance company deduction of the tentative taxable income of certain companies involved with property or casualty insurance. Allows penalty-free withdrawals from annuity contracts to pay qualified higher education expenses of the taxpayer, the taxpayer's spouse, or a child or grandchild of such taxpayer. Excludes premiums paid under designated higher education expense annuities from treatment under gift tax provisions. Repeals the stock for debt exception in de minimis cases.

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5 official files

• Reported in House (text)

  Reported in House · EN

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• Referred in Senate (text)

  Referred in Senate · EN

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• Introduced in House (text)

  Introduced in House · EN

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• Engrossed in House (text)

  Engrossed in House · EN

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• Introduced in House

  summary · EN · 23 July 1992

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