3.0.0 7203 2023-01-11T13:40:59Z 2023-01-11T13:40:59Z House HR 2018-11-30 115 Congressional Record, Volume 164 Issue 189 (Friday, November 30, 2018)
[Congressional Record Volume 164, Number 189 (Friday, November 30, 2018)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. MARCHANT:H.R. 7203.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8: To make all Laws which shall benecessary and proper for carrying into Execution theforegoing Powers, and all other Powers vested by thisConstitution in the Government of the United States, or inany Department or Officer thereof.
[Page H9758]]]> hswm00 Ways and Means Committee House Standing Referred to 2018-11-30T14:00:39Z 2018-11-30 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2018-11-30 Introduced in House IntroReferral Intro-H 9 Library of Congress 2018-11-30 Introduced in House IntroReferral 1000 9 Library of Congress M001158 Rep. Marchant, Kenny [R-TX-24] Kenny Marchant R TX 24 N H001038 Rep. Higgins, Brian [D-NY-26] Brian Higgins D NY 26 2018-11-30 True Taxation Health care costs and insurance Income tax exclusion Life, casualty, property insurance Long-term, rehabilitative, and terminal care Taxation 00 2018-11-30 Introduced in House 2019-03-18T14:55:42Z Long-Term Care Account Act

This bill allows tax-exempt long-term care accounts that are funded using a taxpayer's gains from the sale or assignment of a life insurance contract. The bill excludes from gross income (1) the gains that are contributed to the accounts, and (2) distributions from the accounts that are used exclusively for the long-term care expenses of the account beneficiary or the account beneficiary's spouse.

]]> Long-Term Care Account Act Display Title Long-Term Care Account Act Official Title as Introduced To amend the Internal Revenue Code of 1986 to create long-term care accounts funded by the proceeds of the sale or assignment of life insurance contracts. Introduced in House IH Short Titles as Introduced Long-Term Care Account Act Introduced in House 2018-11-30T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr7203ih/xml/BILLS-115hr7203ih.xml 2018-11-30 Referred to the House Committee on Ways and Means. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.