To amend the Internal Revenue Code of 1986 to revise the limitation applicable to mutual life insurance companies on the deduction for policyholder dividends and to exempt small life insurance companies from the required capitalization of certain policy acquisition expenses.
Insurance Tax Fairness Act of 1994 - Amends the Internal Revenue Code to revise the method for determining the limitation on the deduction of policyholder dividends by mutual life insurance companies.
Exempts small life insurance companies from the required capitalization of certain policy acquisition expenses.
Expresses the sense of the Congress that revenues resulting from this Act be dedicated to the funding of: (1) programs benefiting the nutrition, early education, housing, and family support of the Nation's children; and (2) additional health benefits.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
Sponsor introductory remarks on measure. (CR E1926)
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