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- S.897
S.897: A bill to amend the Internal Revenue Code of 1986 to clarify the calculation of the reserve allowance for medical benefits of plans sponsored by bona fide associations.
About This Bill
- This bill was introduced in the 109th Congress
- This bill is primarily about taxation
- Introduced April 25, 2005
- Latest Major Action April 25, 2005
Bill Sponsor
Bill Cosponsors
3 (1 Democrat, 3 Republicans)
Bill Summary
Amends the Internal Revenue Code to allow a bona fide association (an association which has been actively in existence for at least five years and has been formed and maintained in good faith for purposes other than obtaining insurance) to maintain an additional reserve fund for medical benefits plans not to exceed 35 percent of the sum of certain direct costs and changes in claims incurred.
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
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Sponsor introductory remarks on measure.
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Read twice and referred to the Committee on Finance.
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| April 25, 2005 |
Introduced in the Senate by Orrin G. Hatch (R-Utah) |