H.R. 3669 (111th): Employer-Owned Life Insurance Limitation Act

Introduced:
Sep 29, 2009 (111th Congress, 2009–2010)
Sponsor:
Rep. Luis Gutierrez [D-IL4]
Status:
Died (Referred to Committee)

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

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.


9/29/2009--Introduced.
Employer-Owned Life Insurance Limitation Act - Makes it unlawful for any employer to carry an employer-owned life insurance policy on any employee whose salary is less than $1 million per year. Makes it also unlawful for any employer to carry an employer-owned life insurance policy not prohibited by this Act for an employee (earning $1 million or more per year) more than 30 days after that employee terminates employment with the employer. Requirers an employer to notify an employee who is the subject of a non-prohibited employer-owned life insurance policy within 30 days after purchasing it. Authorizes any employee who is the subject of a prohibited employer-owned life insurance policy (or the employee's spouse or next of kin if the employee is deceased) to commence a civil action in an appropriate U.S. district court to: (1) enjoin the employer from carrying such a policy; and (2) obtain specified damages. Directs the Comptroller General to study and report to Congress on the incidence of employers carrying employer-owned life insurance policies on their employees, and related matters. Prescribes criminal penalties for violation of this Act.

House Republican Conference Summary

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House Democratic Caucus Summary

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The bill contains the following citations to other parts of U.S. law:

United States Code

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