A bill to amend the Internal Revenue Code of 1954 to insure periodic payments for damages received on account of personal injuries or sickness, and for other purposes.
Periodic Payment Settlement Act of 1981 - Amends the Internal Revenue Code to provide for an income tax exclusion of periodic payments of damages received on account of personal injury or sickness, whether paid by the individual originally liable for such damages or his assignee. Allows such assignee a business expense deduction for the payment of such damages.
Subcommittee Hearings Held.
Subcommittee Hearings Held.
Introduced in Senate
Read second time and referred to Senate Committee on Finance.
Committee on Finance requested executive comment from OMB; Treasury Department; Labor Department; Health and Human Services Department.
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