United States · Bill · S
S. 2864 (95th)
Product and Professional Liability Insurance Tax Equity Act
Introduced
10 April 1978
Last action
—
Status
Referred to Senate Committee on Finance.
Sponsors
—
Subjects
Discovery layer
Source updated
2 September 2025
Summary
Product and Professional Liability Insurance Tax Equity Act - Amends the Internal Revenue Code to qualify trusts established for the payment of product and professional liability claims as tax exempt organizations. Allows taxpayers a business income tax deduction for contributions to such trusts only to the extent they do not exceed the reasonable costs of product and professional liability insurance for the deducting taxpayer.
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Timeline
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Votes
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Versions
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Documents
1 official file
Introduced in Senate
summary · EN · 10 April 1978
Sponsors
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Related records
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Sources
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- Official source: https://www.congress.gov/bill/95th-congress/senate-bill/2864
- Open data entity: https://api.congress.gov/v3/bill/95/s/2864