A bill to amend the Internal Revenue Code of 1986 to repeal the provision taxing policy holder dividends of mutual life insurance companies and to repeal the policyholders surplus account provisions.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to repeal provisions: (1) providing for the reduction in certain deductions of mutual life insurance companies; and (2) relating to distributions to shareholders from pre-1984 policyholders surplus accounts.…