[Congressional Bills 104th Congress]
[From the U.S. Government Publishing Office]
[S. 539 Introduced in Senate (IS)]







104th CONGRESS
  1st Session
                                 S. 539

 To amend the Internal Revenue Code of 1986 to provide a tax exemption 
                         for health risk pools.


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                   IN THE SENATE OF THE UNITED STATES

               March 10 (legislative day, March 6), 1995

  Mr. Cochran introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

_______________________________________________________________________

                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to provide a tax exemption 
                         for health risk pools.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled, That (a) subsection (c) 
of section 501 of the Internal Revenue Code of 1986 (relating to list 
of exempt organizations) is amended by adding at the end thereof the 
following new paragraph:
            ``(26) Any corporation, association, or similar legal 
        entity which is created by any State or political subdivision 
        thereof to establish a risk pool to provide health insurance 
        coverage to any person unable to obtain health insurance 
        coverage in the private insurance market because of health 
        conditions and no part of the net earnings of which inures to 
        the benefit of any private shareholder, member, or 
        individual.''
    (b) The amendment made by subsection (a) shall apply to taxable 
years beginning after December 31, 1989.
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