S. 3424: A bill to amend the Internal Revenue Code of 1986 to prevent the avoidance of tax by insurance companies through reinsurance with non-taxed affiliates.
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S. 3424: A bill to amend the Internal Revenue Code of 1986 to prevent the avoidance of tax by insurance companies through reinsurance with non-taxed affiliates.
114th Congress · introduced 2016-09-28 · Taxation · Latest: Read twice and referred to the Committee on Finance.
federal
Follow this bill, step by step
- Where it came from: introduced 2016-09-28 · official record
- Who proposed it: Sen. Warner, Mark R. [D-VA] · what a sponsor is
- What happened next: no floor votes in our records yet. Why?
- Where it stands now: Read twice and referred to the Committee on Finance. Not final yet: this can still change. We check for updates every day.
- If it becomes law and spends money: follow the money to money laws, then agencies and contracts and grants.
Official title
A bill to amend the Internal Revenue Code of 1986 to prevent the avoidance of tax by insurance companies through reinsurance with non-taxed affiliates.
Plain summary
This bill amends the Internal Revenue Code to exclude from the taxable income of a life insurance company or other insurance company: (1) any non-taxed reinsurance premium; (2) any additional amount paid by an insurance company with respect to the reinsurance for which such non-taxed reinsurance premium is paid; and (3) any return premium, ceding commission, reinsurance recovered, or other amount received by an insurance company with respect to the reinsurance for which such non-taxed reinsurance premium is paid.
Congressional Research Service summary (Introduced in Senate), quoted unchanged (nonpartisan). Read the source.
What a vote does
A “Yea” vote
If it passes both chambers and is signed, it becomes law.
A “Nay” vote
If it is not passed, current law stays as it is.
PSI Sci description of the legislative step (not an opinion).
What does this mean? (plain words)
Official text
A bill to amend the Internal Revenue Code of 1986 to prevent the avoidance of tax by insurance companies through reinsurance with non-taxed affiliates.
Source: Congressional Research Service summary (Introduced in Senate)
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Alternatives
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How did my representative vote? · This bill's floor votes
Officials and money
Sponsor: Sen. Warner, Mark R. [D-VA] · 0 cosponsors
Cost estimate: No cost estimate published yet.
Sponsor's campaign money: Sen. Warner, Mark R. [D-VA] reported raising $20.2 million (2025–2026). Details. Shown for context only; it does not mean any donor supported this bill.
No linked floor roll calls in our collected records yet. This does not mean the bill has never had a vote. Check the official bill history.
Words on this page, explained (1)
- Bill
- A proposed law. It becomes law only if it passes the legislature and is signed by the president or governor (or a veto is overridden).
Plain meanings written from linked sources. All words.
Sources
- Congressional Research Service summary (Introduced in Senate)
- Congress.gov
- Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-114s3424.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/114/s>
Record fed-us-cong114-s3424 · catalog fed-us-congress-bills-cong114 · updated 2026-11-15 by psicol fed-bills-cong114