A bill to amend the Internal Revenue Code of 1954 to provide certain physicians' and surgeons' mutual protection associations with tax-exempt status for certain purposes, and for other purposes.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to grant tax-exempt status to a physicians' and surgeons' mutual protection association established to provide malpractice insurance to its members. Characterizes payments for malpractice insurance made to such an association by its physician or surgeon members as deductible business expenses.…