S. 905: An original bill to amend the Internal Revenue Code of 1986 to increase the limitation on eligibility for the alternative tax for certain small insurance companies.

114th Congress · introduced 2015-04-14 · Taxation · Latest: Placed on Senate Legislative Calendar under General Orders. Calendar No. 39.

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Follow this bill, step by step

Where it came from: introduced 2015-04-14 · official record
Who proposed it: Sen. Hatch, Orrin G. [R-UT] · what a sponsor is
What happened next: no floor votes in our records yet. Why?
Where it stands now: Placed on Senate Legislative Calendar under General Orders. Calendar No. 39. 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.

What does this mean?

Official title

An original bill to amend the Internal Revenue Code of 1986 to increase the limitation on eligibility for the alternative tax for certain small insurance companies.

Plain summary

(This measure has not been amended since it was introduced. The summary has been expanded because action occurred on the measure.) (Sec. 1) This bill amends the Internal Revenue Code to expand the eligibility of certain small insurance companies (other than life insurance companies) for the alternative corporate income tax by increasing the premium limitation used to determine such eligibility to $2.2 million (from $1.2 million), with an annual inflation adjustment to such increased amount after 2015. This increase is applicable to taxable years beginning after the enactment of this Act. The Department of the Treasury must submit to the Senate Finance Committee by February 11, 2016, a report on the abuse of captive insurance companies for estate planning purposes, including legislative recommendations for addressing any such abuses. (Sec. 2) This bill also increases from 30% to 45% the rate of the continuous levy on payments made after 180 days after the enactment of this Act to Medicare providers and suppliers for unpaid taxes.

Congressional Research Service summary (Reported to Senate without amendment), 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

An original bill to amend the Internal Revenue Code of 1986 to increase the limitation on eligibility for the alternative tax for certain small insurance companies.

Source: Congressional Research Service summary (Reported to Senate without amendment)

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How did my representative vote? · This bill's floor votes

Officials and money

Sponsor: Sen. Hatch, Orrin G. [R-UT] · 0 cosponsors

Cost estimate: No cost estimate published yet.

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 (Reported to Senate without amendment)
Congress.gov
Data: GovInfo BILLSTATUS bulk data (Library of Congress), BILLSTATUS-114s905.xml <https://www.govinfo.gov/bulkdata/BILLSTATUS/114/s>

Record fed-us-cong114-s905 · catalog fed-us-congress-bills-cong114 · updated 2026-11-15 by psicol fed-bills-cong114