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- S.2040
S.2040: A bill to amend the Internal Revenue Code of 1986 to increase the alternative tax liability limitation for small property and casualty insurance companies.
About This Bill
- This bill was introduced in the 110th Congress
- This bill is primarily about taxation
- Introduced Sept. 12, 2007
- Latest Major Action Sept. 12, 2007
- See the two similar bills introduced in other congresses.
Bill Sponsor
Bill Cosponsors
3 (3 Democrats, 1 Republican)
Bill Summary
Amends the Internal Revenue Code to expand the eligibility of certain small insurance companies (other than life insurance companies) for the alternative corporate income tax by increasing the premium limitation used to determine such eligibility to $1.971 million (from $1.2 million), with an annual inflation adjustment to that increased amount after 2007.
(Source: Library of Congress)
Bill Actions
| Date | Description |
|---|---|
|
Read twice and referred to the Committee on Finance.
|
|
| Sept. 12, 2007 |
Introduced in the Senate by Christopher S. Bond (R-Mo.) |