3.0.0 2115 2023-01-11T13:39:23Z 2023-01-11T13:39:23Z Senate S 2017-11-09 115 ssfi00 Finance Committee Senate Standing Referred to 2017-11-09T21:29:35Z 2017-11-09 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S7158) IntroReferral 2017-11-09 Introduced in Senate IntroReferral 10000 9 Library of Congress L000174 Sen. Leahy, Patrick J. [D-VT] Patrick Leahy D VT N B001277 Sen. Blumenthal, Richard [D-CT] Richard Blumenthal D CT 2017-11-09 True R000122 Sen. Reed, Jack [D-RI] John Reed D RI F. 2017-11-09 True G000555 Sen. Gillibrand, Kirsten E. [D-NY] Kirsten Gillibrand D NY E. 2017-11-09 True H001076 Sen. Hassan, Margaret Wood [D-NH] Maggie Hassan D NH 2017-11-09 True Taxation Civil actions and liability Competition and antitrust Income tax deductions Income tax exclusion Life, casualty, property insurance Taxation 00 2017-11-09 Introduced in Senate 2017-12-15T19:13:49Z

This bill amends the Internal Revenue Code to: (1) deny a tax deduction for any amount paid or incurred for punitive damages in connection with any judgment in, or settlement of, any legal action between private parties; and (2) include any amount paid as punitive damages in gross income for income tax purposes.

]]> A bill to amend the Internal Revenue Code of 1986 to disallow any deduction for punitive damages, and for other purposes. Display Title A bill to amend the Internal Revenue Code of 1986 to disallow any deduction for punitive damages, and for other purposes. Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to disallow any deduction for punitive damages, and for other purposes. Introduced in Senate 2017-11-09T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115s2115is/xml/BILLS-115s2115is.xml 2017-11-09 Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S7158) 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.