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Searching...- Bills
- H.R.2251
H.R.2251: COLI Best Practices Act of 2005
About This Bill
- This bill was introduced in the 109th Congress
- This bill is primarily about taxation
- Introduced May 11, 2005
- Latest Major Action May 11, 2005
Bill Sponsor
Bill Cosponsors
47 (12 Democrats, 36 Republicans)
Bill Summary
COLI Best Practices Act of 2005 - Amends the Internal Revenue Code to limit the tax exclusion for benefits paid by employer-owned life insurance contracts upon the death of an insured employee, with certain exceptions for directors and highly compensated employees and for proceeds paid to the heirs of an insured employee. Requires employers to provide written notice to employees of intent to insure their lives and obtain written consent from...
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
|
Referred to the House Committee on Ways and Means.
|
|
| May 11, 2005 |
Introduced in the House by Thomas M. Reynolds (R-N.Y.) |