HR 11502 · 95th Congress · Business insurance
Product Liability Insurance Tax Equity Act
Bill Progress
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Introduced2
Committee3
House Vote4
Senate5
EnactedLatest: Referred to House Committee on Ways and Means.(1978-03-13)
Plain Language Summary
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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