To amend the Internal Revenue Code of 1986 to provide relief for payment of asbestos-related claims.

Fact Sheet API

Bill Number

HR 1412

Introduced

Apr 4, 2001

Latest Action

Sponsor introductory remarks on measure. (CR E564)

Sponsor

Cosponsors

Topics

Asbestos Business income tax Business losses Commerce Corporate finance Corporation taxes Environmental Protection Income tax Law Products liability Tax deductions Tax exemption Taxation

Full Text

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Votes

Summary

Amends Internal Revenue Code provisions concerning designated settlement funds to exempt from tax any designated settlement fund established for the principal purpose of resolving and satisfying present and future claims relating to asbestos. Sets forth special rules concerning asbestos liability losses.

Actions

Apr 5, 2001

Sponsor introductory remarks on measure. (CR E564)
Apr 4, 2001

Referred to the House Committee on Ways and Means.
Apr 4, 2001

Introduced in House

Amendments

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