To amend the Internal Revenue Code of 1986 to clarify the exemption from tax for small property and casualty insurance companies.
Last action on May 17, 2001Referred to the House Committee on Ways and Means.
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Summary
Amends Internal Revenue Code provisions concerning tax-exempt insurance companies to increase from $350,000 to $551,000 (adjusted annually for inflation) the maximum amount of premiums that may be written annually by such a company in order to remain tax-exempt.
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