United States · Bill · HR
H.R. 970 (97th)
Product and Professional Design Liability Insurance Tax Equity Act of 1981
Introduced
20 January 1981
Last action
—
Status
Referred to House Committee on Ways and Means.
Sponsors
—
Subjects
Discovery layer
Source updated
29 August 2025
Summary
Product and Professional Design Liability Insurance Tax Equity Act of 1981 - Amends the Internal Revenue Code to qualify trusts established for the payment of product liability claims, professional design liability claims, and related expenses as tax-exempt organizations. Allows a tax deduction for contributions to such trusts only to the extent that such contributions exceed the reasonable cost, as determined under Treasury regulations, of design liability insurance.
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Versions
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Documents
1 official file
Introduced in House
summary · EN · 20 January 1981
Sponsors
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Sources
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- Official source: https://www.congress.gov/bill/97th-congress/house-bill/970
- Open data entity: https://api.congress.gov/v3/bill/97/hr/970