S. 2955 — A bill to amend the Internal Revenue Code of 1986 to provide relief for the payment of asbestos-related claims.

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.

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Related Legislation

H.R. 4543To amend the Internal Revenue Code of 1986 to provide relief for payment of asbestos-related claims.
2000-05-25Referred to the House Committee on Ways and Means.
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Legislative Actions

2000-07-27
Introduced in Senate
2000-07-27
Read twice and referred to the Committee on Finance. (text of measure as introduced: CR S7846-7847)

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

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