[Congressional Bills 107th Congress]
[From the U.S. Government Publishing Office]
[S. 654 Introduced in Senate (IS)]
107th CONGRESS
1st Session
S. 654
To amend the Internal Revenue Code of 1986 to restore, increase, and
make permanent the exclusion from gross income for amounts received
under qualified group legal services plans.
_______________________________________________________________________
IN THE SENATE OF THE UNITED STATES
March 29, 2001
Mr. Torricelli introduced the following bill; which was read twice and
referred to the Committee on Finance
_______________________________________________________________________
A BILL
To amend the Internal Revenue Code of 1986 to restore, increase, and
make permanent the exclusion from gross income for amounts received
under qualified group legal services plans.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. EXCLUSION FOR AMOUNTS RECEIVED UNDER QUALIFIED GROUP LEGAL
SERVICES PLANS RESTORED, INCREASED, AND MADE PERMANENT.
(a) Increase of Exclusion.--Subsection (a) of section 120 of the
Internal Revenue Code of 1986 (relating to amounts received under
qualified group legal services plans) is amended by striking the last
sentence.
(b) Restoration and Permanence of Exclusion.--Section 120 of the
Internal Revenue Code of 1986 (relating to amounts received under
qualified group legal services plans) is amended by striking subsection
(e) and by redesignating subsection (f) as subsection (e).
(c) Effective Date.--The amendments made by this section shall
apply to taxable years beginning after December 31, 2001.
<all>
Introduced in Senate
Read twice and referred to the Committee on Finance.
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