H.R.1412: To amend the Internal Revenue Code of 1986 to provide relief for payment of asbestos-related claims.

About This Bill

Bill Cosponsors

127 (50 Democrats, 1 Independent, 77 Republicans)

Bill Summary

Amends Internal Revenue Code provisions concerning designated settlement funds to exempt from tax any designated settlement fund established for the principal purpose of resolving and satisfying present and future claims relating to asbestos. Sets forth special rules concerning asbestos liability losses.

(Source: Library of Congress)

Bill Actions

Date Description
Referred to the House Committee on Ways and Means.
Sponsor introductory remarks on measure.
April 4, 2001

Introduced in the House by Michael Allen Collins (R-Ga.)

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