H.R. 3037
Referred to CommitteeGroup Term Life Insurance Increase Act
Latest Action
Referred to the House Committee on Ways and Means.
6/23/2017 • House
Summary
Group Term Life Insurance Increase Act
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 2017.
Introduced in House • 6/23/2017
Topics & Subjects
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Bill Journey
Originated in the House
Introduced
June 23, 2017
Referred to the House Committee on Ways and Means.
Committee Review
Floor Debate
Passed Chamber
Other Chamber
President
Enacted into Law
Text Versions (1)
Related Bills (4)
S. 1938
Stronger Way Act
H.R. 1012
Group Term Life Insurance Increase Act of 2017
H.R. 1
An act to provide for reconciliation pursuant to titles II and V of the concurrent resolution on the budget for fiscal year 2018.
H.R. 2771
Group Term Life Insurance Increase Act of 2015