H.R. 2771
Referred to CommitteeGroup Term Life Insurance Increase Act of 2015
Latest Action
Referred to the House Committee on Ways and Means.
6/15/2015 • House
Summary
Group Term Life Insurance Increase Act of 2015
This bill amends the Internal Revenue Code to increase the limit on the amount of employer-provided group term life insurance that an employee may exclude from his or her gross income for income tax purposes. Currently, an employee may exclude from gross income up to $50,000 of the cost of such insurance plus any amount paid by the employee for the purchase of such insurance. The bill increases the $50,000 limit to $375,000, and adjusts such increased limit for inflation in taxable years beginning after 2015.
Introduced in House • 6/15/2015
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Bill Journey
Originated in the House
Introduced
June 15, 2015
Referred to the House Committee on Ways and Means.
Committee Review
Floor Debate
Passed Chamber
Other Chamber
President
Enacted into Law