HR 8537 · 95th Congress · Business insurance

Product Liability Insurance Tax Equity Act

Introduced 1977-07-26· Sponsored by Rep. Forsythe, Edwin B. [R-NJ-6]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1977-07-26)

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