HR 11502 · 95th Congress · Business insurance

Product Liability Insurance Tax Equity Act

Introduced 1978-03-13· Sponsored by Rep. Whalen, Charles W., Jr. [R-OH-3]· House

Bill Progress

Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1978-03-13)

Plain Language Summary

[AI summary unavailable — showing source text] Product Liability Insurance Tax Equity Act - Amends the Internal Revenue Code to qualify trusts established for the payment of product liability claims as tax exempt organizations. Allows taxpayers a business income tax deduction for contributions to such trusts only to the extent they exceed the reasonable costs of product liability insurance for the deducting taxpayer.…

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

Cosponsors (4)

1 Democrat3 Republicans