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United States · Bill · S

S. 284 (102nd)

A bill to amend the Internal Revenue Code of 1986 with respect to the tax treatment of payments under life insurance contracts for terminally ill individuals.

openUnited States· United States Congress· EN

Introduced

30 January 1991

Last action

12 June 1991 · Committee

Status

Subcommittee on Taxation. Hearings held. Hearings printed: S.Hrg. 102-412.

Sponsors

Sen. Bradley, Bill [D-NJ], Sen. Lieberman, Joseph I. [ID-CT], Sen. Lautenberg, Frank R. [D-NJ], Sen. Dodd, Christopher J. [D-CT], Sen. Wallop, Malcolm [R-WY], Sen. Symms, Steven D. [R-ID], Sen. Grassley, Chuck [R-IA], Sen. Chafee, John H. [R-RI], Sen. Burns, Conrad R. [R-MT], Sen. Burdick, Quentin N. [D-ND], Sen. Gorton, Slade [R-WA], Sen. McCain, John [R-AZ], Sen. Sarbanes, Paul S. [D-MD], Sen. Harkin, Tom [D-IA], Sen. Helms, Jesse [R-NC], Sen. Adams, Brock [D-WA], Sen. Thurmond, Strom [R-SC], Sen. Bond, Christopher S. [R-MO], Sen. Shelby, Richard C. [R-AL], Sen. Graham, Bob [D-FL], Sen. Bingaman, Jeff [D-NM], Sen. Murkowski, Frank H. [R-AK], Sen. Danforth, John C. [R-MO], Sen. DeConcini, Dennis [D-AZ], Sen. Ford, Wendell H. [D-KY], Sen. Mikulski, Barbara A. [D-MD], Sen. Cranston, Alan [D-CA], Sen. Levin, Carl [D-MI], Sen. Baucus, Max [D-MT], Sen. Kerrey, J. Robert [D-NE], Sen. Breaux, John B. [D-LA], Sen. Conrad, Kent [D-ND], Sen. Inouye, Daniel K. [D-HI], Sen. Exon, J. James [D-NE], Sen. Roth Jr., William V. [R-DE], Sen. Kassebaum, Nancy Landon [R-KS], Sen. Daschle, Thomas A. [D-SD], Sen. Biden, Joseph R., Jr. [D-DE], Sen. Packwood, Bob [R-OR], Sen. Simpson, Alan K. [R-WY], Sen. Akaka, Daniel K. [D-HI], Sen. Jeffords, James M. [I-VT], Sen. Hatfield, Mark O. [R-OR], Sen. Johnston, J. Bennett [D-LA], Sen. Craig, Larry E. [R-ID], Sen. Leahy, Patrick J. [D-VT], Sen. Garn, E. J. (Jake) [R-UT], Sen. Coats, Daniel [R-IN]

Subjects

Taxation

Source updated

14 January 2025

Taxation

Official sourceDownload fileView documentsShare

Summary

Amends the Internal Revenue Code to require that payment under a life insurance contract on the life of an insured who is terminally ill be treated as a death benefit, making such payment eligible for tax exclusion from gross income. Provides that any reference to life insurance shall be treated as referring to a qualified terminal illness rider. Provides for the tax treatment of such riders. Describes such a rider as one which provides for payments to an individual upon the insured's becoming terminally ill. Provides that applicants for or recipients of assistance under the Social Security Act may not be required to elect to receive accelerated death benefits under life insurance policies.

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

Timeline

  1. 30 January 1991

    Introduced

    Introduced in Senate

    Source: IntroReferral

  2. 30 January 1991

    Introduced

    Read twice and referred to the Committee on Finance.

    Source: IntroReferral

  3. 12 June 1991

    Committee

    Subcommittee on Taxation. Hearings held. Hearings printed: S.Hrg. 102-412.

    Source: Committee

Votes

No vote records are attached yet.

Versions

Documents

2 official files

Introduced in Senate (text)

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  • Introduced in Senate (text)

    Introduced in Senate · EN

    ViewDownloadOpen at official source

  • Introduced in Senate

    summary · EN · 30 January 1991

    Open at official source

    Leesvertaling

    Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

    Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

Showing 48 of 74 sponsors and actors.

Related records

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Sources

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