[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 1416 Introduced in House (IH)]

103d CONGRESS
  1st Session
                                H. R. 1416

To amend the Internal Revenue Code of 1986 to include liability to pay 
    compensation under workmen's compensation acts within the rules 
          relating to certain personal liability assignments.


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                    IN THE HOUSE OF REPRESENTATIVES

                             March 18, 1993

  Mr. Jacobs introduced the following bill; which was referred to the 
                      Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
To amend the Internal Revenue Code of 1986 to include liability to pay 
    compensation under workmen's compensation acts within the rules 
          relating to certain personal liability assignments.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. ASSIGNMENT OF WORKMEN'S COMPENSATION LIABILITY ELIGIBLE FOR 
              EXCLUSION RELATING TO PERSONAL INJURY LIABILITY 
              ASSIGNMENTS.

    (a) In General.--Subsection (c) of section 130 of the Internal 
Revenue Code of 1986 (relating to certain personal injury liability 
assignments) is amended--
            (1) by inserting ``, or as compensation under any workmen's 
        compensation act,'' after ``(whether by suit or agreement)'' in 
        the material preceding paragraph (1),
            (2) by inserting ``or the workmen's compensation claim,'' 
        after ``agreement,'' in paragraph (1), and
            (3) by striking ``section 104(a)(2)'' in paragraph (2)(D) 
        and inserting ``paragraph (1) or (2) of section 104(a)''.
    (b) Effective Date.--The amendment made by subsection (a) shall 
apply to claims under workmen's compensation acts filed after the date 
of the enactment of this Act.

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