Summary: H.R.1497 — 104th Congress (1995-1996)All Information (Except Text)

There is one summary for H.R.1497. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (04/07/1995)

Insurance Tax Fairness and Small Insurance Company Economic Growth Act of 1995 - Amends the Internal Revenue Code to revise the method for determining the limitation on the deduction of policyholder dividends by mutual life insurance companies.

Exempts small life insurance companies from the required capitalization of certain policy acquisition expenses.

Expresses the sense of the Congress that revenues resulting from this Act shall be dedicated to the funding of: (1) deficit reduction; (2) tax incentives for the economic growth of small life insurance companies; and (3) programs benefiting the nutrition, early education, housing, and family support of the Nation's children.