HR 10051 · 94th Congress · Taxation

An Act to amend section 815 of the Internal Revenue Code to allow a life insurance company to disregard (for purposes of that section) a distribution during the last month of its taxable year, determined to have been made out of the policyholders surplus account, if such distribution is returned to the company not later than the due date for filing its income tax return (including extensions thereof) for that year, and for other purposes.

Introduced 1975-10-06· Sponsored by Rep. Waggonner, Joe D., Jr. [D-LA-4]· House

Bill Progress

1
Introduced
Committee
House Vote
Senate
Enacted
Latest: Public law 94-331.(1976-06-30)

Recorded Votes

PassedHouse · 1976-06-22
Yea 339Nay 66
PassedHouse · 1976-06-22
Yea 339Nay 66

Plain Language Summary

[AI summary unavailable — showing source text] Provides, under the Internal Revenue Code, that a life insurance company may disregard a distribution during the last month of its taxable year, determined to have been made out of the policyholders surplus account, if such distribution is returned to the company not later than the due date for filing its income tax return (including extensions thereof) for that year.…

Summarized by Claude AI · Non-partisan · For informational purposes only