H.R. 5641 (102nd): To amend the Internal Revenue Code of 1986 with respect to the treatment of certain nonprofit organizations providing health benefits, and for other purposes.

Introduced:
Jul 22, 1992 (102nd Congress, 1991–1992)
Sponsor:
Rep. Raymond McGrath [R-NY5]
Status:
Died (Passed House)

The bill’s title was written by the bill’s sponsor. H.R. stands for House of Representatives bill.

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Status

This bill was introduced in a previous session of Congress and was passed by the House on August 3, 1992 but was never passed by the Senate.

Progress
Introduced Jul 22, 1992
Referred to Committee Jul 22, 1992
Reported by Committee Jul 24, 1992
Passed House Aug 03, 1992
Referred to Committee Oct 05, 1992
Cosponsors
none
Committees

House Ways and Means

Senate Finance

The committee chair determines whether a bill will move past the committee stage.

Summary

No summaries available.

Text

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Primary Source

View on THOMAS (The Library of Congress)

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GovTrack’s Bill Summary

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Library of Congress Summary

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress.

7/22/1992--Introduced.
Amends the Internal Revenue Code to provide that the special deduction and rules extended to certain existing Blue Cross or Blue Shield organizations shall be extended to an organization that is not a health maintenance organization and is organized under and governed by State laws which are specifically and exclusively applicable to not-for-profit health insurance or health service type organizations.
Provides that the limitation on deductions for certain dividends paid on employer securities held in an employee stock ownership plan does not apply to employer securities acquired with assets transferred from a defined benefit plan through an employer reversion transaction.
Declares that the characterization (at the time of issuance) of a corporate interest as stock or debt by the corporate issuer is binding on the issuer and on all holders (but not binding on the Secretary of the Treasury). Requires holders who treat such interest in an inconsistent manner to disclose such inconsistent treatment on the first tax return for the first year during which such instrument was held.

House Republican Conference Summary

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No summary available.

House Democratic Caucus Summary

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