Summary: H.R.5657 — 102nd Congress (1991-1992)All Information (Except Text)

There is one summary for H.R.5657. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (07/22/1992)

Amends the Internal Revenue Code to exclude a deposit made by a policyholder under a qualified perpetual insurance policy from provisions governing the treatment of loans with below-market interest rates. Describes such a policy as one: (1) which provides insurance for property damage or casualty with respect to certain residential property (or the contents thereof); and (2) which is funded only by the policyholder placing a cash deposit (and does not provide for any periodic premiums) and such deposit is fully refundable upon cancellation.