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To amend the Internal Revenue Code of 1986 to disallow the deduction for excess non-taxed reinsurance premiums with respect to United States risks paid to affiliates.
Legislative Progress
Introduced
September 18, 2008
Latest Action
September 18, 2008
Primary Sponsor
Richard E. NealDemocratic(MA)
Momentum (last 30 days)
0
score
0 actions · 0 new cosponsors · 0 votes
Speed vs cohort
0pct
0d open
vs 7,255 other HR bills in the 110th — cohort avg 47d
No CRS summary is available for this bill yet. The source title, actions, sponsors, and text versions below come from Congress.gov.
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Filing registrants (14)
Bills with similar content found using semantic analysis.
Sources: Congress.gov
2009 · second_quarter · Taxation/Internal Revenue Code
HR 6969 (2008 BILL): TO AMEND THE INTERNAL REVENUE CODE OF 1986 TO DISALLOW THE DEDUCTION FOR EXCESS NON-TAXED REINSURANCE PREMIUMS WITH RESPECT TO UNITED STATES RISKS PAID TO AFFILIATES AND SENATE FINANCE COMMITTEE STAFF DISCUSSION DRAFT BILL NOT YET ASSIGNED: FOREIGN AFFILIATE REINSURANCE (TAX, OFFSHORE TAX AND AFFILIATED REINSURANCE TAX) DRAFT BILLS
Client expense: $270,000 · Firm income: Not reported
Government targets: Commerce, Dept of (DOC), Federal Emergency Management Agency (FEMA), Federal Trade Commission (FTC), HOUSE OF REPRESENTATIVES, SENATE
2009 · second_quarter · Taxation/Internal Revenue Code
HR 6969 (2008 BILL): TO AMEND THE INTERNAL REVENUE CODE OF 1986 TO DISALLOW THE DEDUCTION FOR EXCESS NON-TAXED REINSURANCE PREMIUMS WITH RESPECT TO UNITED STATES RISKS PAID TO AFFILIATES AND SENATE FINANCE COMMITTEE STAFF DISCUSSION DRAFT BILL NOT YET ASSIGNED: FOREIGN AFFILIATE REINSURANCE (TAX, OFFSHORE TAX AND AFFILIATED REINSURANCE TAX) DRAFT BILLS
Client expense: $260,000 · Firm income: Not reported
Government targets: Commerce, Dept of (DOC), Federal Emergency Management Agency (FEMA), Federal Trade Commission (FTC), HOUSE OF REPRESENTATIVES, SENATE
2009 · second_quarter · Taxation/Internal Revenue Code
HR 6969 (2008 BILL): TO AMEND THE INTERNAL REVENUE CODE OF 1986 TO DISALLOW THE DEDUCTION FOR EXCESS NON-TAXED REINSURANCE PREMIUMS WITH RESPECT TO UNITED STATES RISKS PAID TO AFFILIATES AND SENATE FINANCE COMMITTEE STAFF DISCUSSION DRAFT BILL NOT YET ASSIGNED: FOREIGN AFFILIATE REINSURANCE (TAX, OFFSHORE TAX AND AFFILIATED REINSURANCE TAX) DRAFT BILLS
Client expense: $250,000 · Firm income: Not reported
Government targets: Commerce, Dept of (DOC), Federal Emergency Management Agency (FEMA), Federal Trade Commission (FTC), HOUSE OF REPRESENTATIVES, SENATE
2009 · second_quarter · Taxation/Internal Revenue Code
Tax treatment of Property and Casualty Insurance and Reinsurance including H.R. 6969 introduced by Mr. Neal (September 18, 2008).
Client expense: Not reported · Firm income: $60,000
Government targets: Executive Office of the President (EOP), HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of
2009 · first_quarter · Taxation/Internal Revenue Code
Tax treatment of Property and Casualty Insurance and Reinsurance including H.R. 6969.
Client expense: Not reported · Firm income: $60,000
Government targets: Executive Office of the President (EOP), HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of
2008 · fourth_quarter · Taxation/Internal Revenue Code
Taxation of reinsurance premiums (HR 6969)
Client expense: Not reported · Firm income: Not reported
2008 · fourth_quarter · Taxation/Internal Revenue Code
H.R. 6755, H.R. 6969, S. 2040
Client expense: $454,203 · Firm income: Not reported
Government targets: Centers For Medicare and Medicaid Services (CMS), Congressional Budget Office (CBO), Federal Emergency Management Agency (FEMA), Federal Reserve System, Federal Trade Commission (FTC), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Patent & Trademark Office (PTO), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of
2008 · third_quarter · Taxation/Internal Revenue Code
tax deduction for reinsurance with foreign affiliate, Rep. Richard Neal (HR 6969)
Client expense: Not reported · Firm income: $10,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2008 · fourth_quarter · Taxation/Internal Revenue Code
taxation of offshore reinsurance placed with an affiliate HR 6969, Rep. Richard Neal
Client expense: Not reported · Firm income: $10,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2008 · fourth_quarter · Insurance
H.R. 6969 - To amend the Internal Revenue Code of 1986 to disallow the deduction for excess non-taxed reinsurance premiums with respect to United States risks paid to affiliates.
Client expense: Not reported · Firm income: $30,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2008 · third_quarter · Taxation/Internal Revenue Code
HR6969: TO AMEND THE INTERNAL REVENUE CODE OF 1986 TO DISALLOW THE DEDUCTION FOR EXCESS NON-TAXED REINSURANCE PREMIUMS WITH RESPECT TO UNITED STATES RISKS PAID TO AFFILIATES; REINSURANCE RELATED PROVISIONS
Client expense: $60,000 · Firm income: Not reported
Government targets: Environmental Protection Agency (EPA), Federal Emergency Management Agency (FEMA), Federal Trade Commission (FTC), HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of, White House Office
2008 · fourth_quarter · Taxation/Internal Revenue Code
HR 6969: TO AMEND THE INTERNAL REVENUE CODE OF 1986 TO DISALLOW THE DEDUCTION FOR EXCESS NON-TAXED REINSURANCE PREMIUMS WITH RESPECT TO UNITED STATES RISKS PAID TO AFFILIATES; TAX TREATMENT OF INSURANCE COMPANIES THAT DEDUCT PREMIUMS OF THE INDUSTRY AVERAGE
Client expense: $30,000 · Firm income: Not reported
Government targets: Federal Trade Commission (FTC), Government Accountability Office (GAO), HOUSE OF REPRESENTATIVES, Justice, Dept of (DOJ), SENATE, Small Business Administration (SBA), Transportation, Dept of (DOT), Treasury, Dept of, White House Office
2008 · fourth_quarter · Taxation/Internal Revenue Code
Foreign reinsurance taxation (H.R. 6969).
Client expense: Not reported · Firm income: $30,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of
2008 · fourth_quarter · Taxation/Internal Revenue Code
H.R. 1820 / S.1556 - Tax Equity for Health Plan Beneficiaries Act of 2007 S. 349 - Small Business and Work Opportunity Act of 2007 H.R. 1813 / S. 1416 - To amend the IRC of 1986 to make permanent the deduction of ortgage insurance premiums. S. 396 - To amend the IRC of 1986 to treat controlled foreign corporations established in tax havens as domestic corporations H.R. 6969 - Offshore Reinsurance Cessions, to amend the Internal Revenue Code of 1986 to disallow the deduction for excess non-taxed reinsurance premiums with respect to United States risks paid to affiliates.
Client expense: $612,133 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2008 · fourth_quarter · Insurance
S. 1061 - Homeowners Insurance Noncoverage Disclosure Act S. 545 - Passenger Vehicle Loss Disclosure Act of 2007 S. 618 - Insurance Industry Competition Act of 2007 H.R. 1081 - Insurance Industry Competition Act of 2007 S. 40 / H.R. 3200 - National Insurance Act of 2007 H.R. 1065 - Nonadmitted and Reinsurance Reform Act of 2007 S. 618 - Insurance Industry Competition Act of 2007 H.R. 5792 - Increasing Insurance Coverage Options for Consumers Act of 2008 H.R. 5611 - National Association of Registered Agents and Brokers Reform Act of 2008 (NARAB II) H.R. 5840 - Insurance Information Act H.R. 6062 - Personal Lines of Insurance Fairness Act of 2008 H.R. 6969- Offshore Reinsurance Cessions, to amend the Internal Revenue Code oof 1986 to disallow the deduction for exces non-taxed reinsurance premiums with respect to United States risks paid to affiliates.
Client expense: $612,133 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2008 · fourth_quarter · Taxation/Internal Revenue Code
Retirement Product issues including: S.1010 - Retirement Security for Life Act of 2007 H.R.2205 - Retirement Security for Life Act of 2007 S.1288 - Women's Retirement Security Act of 2007 401(K) fee issues including: S.3278 A bill to amend the Internal Revenue Code of 1986 to provide that no loan may be made from a qualified employer plan using a credit card or other intermediary and to limit the number of loans that may be made from a qualified employer plan to a participant or beneficiary. H.R.6708 - To amend the Internal Revenue Code of 1986 to provide that no loan may be made from a qualified employer plan using revolving credit arrangements and to limit the number of loans that may be made from a qualified employer plan to a participant or beneficiary. H.R.3765 - Defined Contribution Plan Fee Transparency Act of 2007 S.2473 - Defined Contribution Fee Disclosure Act of 2007 Non-Qualified Deferred Compensation issues including: H.R.3963 - Children's Health Insurance Program Reauthorization Act of 2007 H.R.976 Small Business Tax Relief Act of 2007 International Tax issues including: H.R.5140 - Economic Stimulus Act of 2008 H.R.4351 - AMT Relief Act of 2007 H.R.6969 - To amend the Internal Revenue Code of 1986 to disallow the deduction for excess non-taxed reinsurance premiums with respect to United States risks paid to affiliates.
Client expense: $690,000 · Firm income: Not reported
Government targets: Executive Office of the President (EOP), HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of
2008 · fourth_quarter · Taxation/Internal Revenue Code
H.R. 6755, H.R. 6969, S. 2040
Client expense: $454,203 · Firm income: Not reported
Government targets: Centers For Medicare and Medicaid Services (CMS), Congressional Budget Office (CBO), Federal Emergency Management Agency (FEMA), Federal Reserve System, Federal Trade Commission (FTC), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Patent & Trademark Office (PTO), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of
2008 · fourth_quarter · Insurance
*HR 1746, Holocaust Insurance Accountability Act of 2007 - all provisions *HR 3200, National Insurance Act of 2007 - all provisions *HR 1065, Nonadmitted and Reinsurance Reform Act - all provisions *HR 5840, Insurance Information Act of 2008 - all provisions *HR 6213, Reinsurance International Solvency Standards Evaluation Board Act of 2008 - all provisions *Climate change-related legislation (no specific legislation) - provisions related to carbon dioxide emissions controls *Natural Catastrophe related legislation (HR 3355- The Homeowners Defense Act of 2007; HR 164, The Policyholder Disaster Protection Act; HR 330, Homeowners Insurance Availability Act; HR3959, Amendments to the National Flood Insurance Program) - provisions related to the establishment of federal government-sponsored insurance program for natural catastrophe damages and related financing proposals *S2284/HR3121, Flood Insurance Reform and Modernization Act of 2007 - all provisions *HR 6969 Related party reinsurance - provisions related to foreign taxation
Client expense: $280,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of
2008 · fourth_quarter · Taxation/Internal Revenue Code
HR 6969, To amend the Internal Revenue Code of 1986 to disallow the deduction for excess non-taxed reinsurance premiums with respect to United States risks paid to affiliates.
Client expense: Not reported · Firm income: $30,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2008 · fourth_quarter · Taxation/Internal Revenue Code
HR 6969: TO AMEND THE INTERNAL REVENUE CODE OF 1986 TO DISALLOW THE DEDUCTION FOR EXCESS NON-TAXED REINSURANCE PREMIUMS WITH RESPECT TO UNITED STATES RISKS PAID TO AFFILIATES; TAX TREATMENT OF INSURANCE COMPANIES THAT DEDUCT PREMIUMS OF THE INDUSTRY AVERAGE
Client expense: $30,000 · Firm income: Not reported
Government targets: Federal Trade Commission (FTC), Government Accountability Office (GAO), HOUSE OF REPRESENTATIVES, Justice, Dept of (DOJ), SENATE, Small Business Administration (SBA), Transportation, Dept of (DOT), Treasury, Dept of, White House Office
2008 · fourth_quarter · Taxation/Internal Revenue Code
Tax treatment of Property and Casualty Insurance and Reinsurance; H.R. 6969
Client expense: Not reported · Firm income: $60,000
Government targets: Executive Office of the President (EOP), HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of
2008 · fourth_quarter · Taxation/Internal Revenue Code
Stop Tax Haven Abuse Act (S 681/HR 2136) - legislation naming Switzerland (among other countries) as a secrecy jurisdiction for tax purposes for certain transactions; Proposals to alter tax treatment of legitimate business transactions undertaken by U.S. subsidiaries of foreign parent corporations, including, HR. 6969 proposals; MADE in the USA Tax Act (S. 3162) - (Title II, Subtitle C, Section 225) sense of the Senate regarding certain reinsurance transactions with foreign related persons; Oversight of the Performance and Effectiveness of National Contracting Act of 2008 (S. 3139) - (Title I, Section 102) prohibition on awarding of government contracts or grants to companies purposefully organized in an offshore secrecy jurisdiction to avoid federal tax obligation; HR 6969 - To amend the Internal Revenue Code of 1986 to alter tax treatment of legitimate business transactions undertaken by U.S. subsidiaries of foreign parent corporations; similar Senate "staff draft" of HR 6969.
Client expense: $790,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of
2008 · fourth_quarter · Insurance
Optional Federal Charter for insurers: National Insurance Act of 2007 - S. 40, HR 3200 Office of Insurance Information in the US Department of Treasury: Insurance Information Act of 2008 - HR 5840 Surplus lines: Nonadmitted and Reinsurance Reform Act - HR 1065, S. 929 McCarran-Ferguson repeal: Insurance Industry Competition Act of 2007 - S. 618, HR 1081 Reinsurance International Solvency Standards Evaluation Board Act of 2008 - HR 6213 National Association of Registered Agents and Brokers Reform Act of 2008 - HR 5611 Issues related to using credit in personal lines of insurance - HR 5633, HR 6062 Federal Crop Insurance Program National Flood Insurance Program: Flood Insurance Reform and Modernization Act of 2007 - HR 1682, HR 3121, S. 2284; Multiple Peril Insurance Act of 2007 - HR 920; Flood Insurance Choice Act of 2007 - S. 1890 Medicare Secondary Payer and Workers' Compensation Reform - HR 2549 Issues related to insurance and natural catastrophes - Commission on Catastrophic Disaster Risk and Insurance Act of 2007 - HR 537, S. 292; Homeowners' Protection Act of 2007 - S. 928; Homeowners' Insurance Protection Act of 2007 - HR 91; Homeowners' Insurance Availability Act of 2007 - HR 330; Policyholder Disaster Protection Act of 2007 (tax-deferred catastrophic reserves) - S. 926, HR 164 False Claims Act Correction Act of 2007 - S. 2041, HR 4854 Increasing Insurance Coverage Options for Consumers Act of 2008 - HR 5792 Taxation of Reinsurance Transactions: HR 6969
Client expense: $350,000 · Firm income: Not reported
Government targets: Commerce, Dept of (DOC), HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of, U.S. Trade Representative (USTR), White House Office
2008 · fourth_quarter · Taxation/Internal Revenue Code
International taxation: S. 1006; HR 1672; S. 96; S. 681 Taxation on insurance companies; taxation of reinsurance transactions: HR 6969 Tax-deferred catastrophic reserves: Policyholder Disaster Protection Act of 2007 - S. 926, HR 164 Offshore Deferred Compensation Reform Act of 2007 - S. 2199
Client expense: $350,000 · Firm income: Not reported
Government targets: Commerce, Dept of (DOC), HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of, U.S. Trade Representative (USTR), White House Office
2008 · fourth_quarter · Taxation/Internal Revenue Code
HR 6969, To amend the Internal Revenue Code of 1986 to disallow the deduction for excess non-taxed reinsurance premiums with respect to United States risks paid to affiliates.
Client expense: Not reported · Firm income: $30,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2008 · fourth_quarter · Taxation/Internal Revenue Code
S. 2040 - To amend the Internal Revenue Code of 1986 to increase the alternative tax liability - All provisions H.R. 6755 - To amend the Internal Revenue Code of 1986 to increase the alternative tax liability - All provisions H.R. 6969 - A bill to amend the Internal Revenue Code of 1986 to disallow the deduction for excess non-taxed reinsurance premiums with respect to U.S. risks paid to affiliates - All provisions
Client expense: $630,000 · Firm income: Not reported
Government targets: Federal Trade Commission (FTC), HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of
2008 · fourth_quarter · Taxation/Internal Revenue Code
Cascading taxes for foreign-owned insurers: Advocate against measure that would lead to imposition of an excise tax twice when insurance ore reinsurance is placed from the U.S. to a foreign company and then when the foreign company rreinsures the U.S. risck. The IRS issued a ruling on this in March (IRS Ruling 2008-15). Exchange traded notes: For PIMCO followed issue through trade association Investment Company Institute. ETN's are an alternative to mutual funds and enjoy a tax preference. Treasury has recently weighed in and may view this current tax treatment as not appropriate. Annuities tax relief: Support S.1010 in the Senate and H.R. 2205 in the House, titled the Retirement Security for Life Act, which would exclude from income taxes 50 percent of grossincome and annuity payments, not to exceed $20,000 per year. Reinsurance taxation: Advocate against legislation (H.R. 6969, "To Amend the Internal Revenue Code of 1986 to disallow the deduction for Excess Non-Taxed Reinsurance Premiums with respect to United States risks paid to affiliates.") This bill would prohibit offshore reinsurance affiliates of insurance companies not required to pay U.S. taxes from taking deductions for "excess reinsurance premiums" for domestic risks. Tax Extenders: Lobbied for extension of exemption for foreign shareholders of U.S. mutual funds from a U.S. withholding tax. This was included in the bailout bill. H.R. 1424 signed into law. Tax Extenders: Lobbied for an extension of capital gain tax rate for 2009 and 2010.
Client expense: $350,000 · Firm income: Not reported
Government targets: Commodity Futures Trading Commission (CFTC), HOUSE OF REPRESENTATIVES, Risk Management Agency, SENATE, Securities & Exchange Commission (SEC), State, Dept of (DOS), Treasury, Dept of
2008 · fourth_quarter · Taxation/Internal Revenue Code
Taxation of reinsurance premiums (H.R. 6969).
Client expense: Not reported · Firm income: Not reported
2008 · fourth_quarter · Insurance
Reinsurance issues; H.R. 6969 - To amend the Internal Revenue Code of 1986 to disallow the deduction for excess non-taxed reinsurance premiums with respect to United States risks paid to affiliates.
Client expense: Not reported · Firm income: Not reported
2008 · third_quarter · Taxation/Internal Revenue Code
Retirement Product issues including: S.1010 - Retirement Security for Life Act of 2007 H.R.2205 - Retirement Security for Life Act of 2007 S.1288 - Women's Retirement Security Act of 2007 401(K) fee issues including: S.3278 A bill to amend the Internal Revenue Code of 1986 to provide that no loan may be made from a qualified employer plan using a credit card or other intermediary and to limit the number of loans that may be made from a qualified employer plan to a participant or beneficiary. H.R.6708 - To amend the Internal Revenue Code of 1986 to provide that no loan may be made from a qualified employer plan using revolving credit arrangements and to limit the number of loans that may be made from a qualified employer plan to a participant or beneficiary. H.R.3765 - Defined Contribution Plan Fee Transparency Act of 2007 S.2473 - Defined Contribution Fee Disclosure Act of 2007 Non-Qualified Deferred Compensation issues including: H.R.3963 - Children's Health Insurance Program Reauthorization Act of 2007 H.R.976 Small Business Tax Relief Act of 2007 International Tax issues including: H.R.5140 - Economic Stimulus Act of 2008 H.R.4351 - AMT Relief Act of 2007 H.R.6969 - To amend the Internal Revenue Code of 1986 to disallow the deduction for excess non-taxed reinsurance premiums with respect to United States risks paid to affiliates.
Client expense: $980,000 · Firm income: Not reported
Government targets: Executive Office of the President (EOP), HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of
2008 · third_quarter · Taxation/Internal Revenue Code
Stop Tax Haven Abuse Act (S 681/HR 2136) - legislation naming Switzerland (among other countries) as a secrecy jurisdiction for tax purposes for certain transactions; Proposals to alter tax treatment of legitimate business transactions undertaken by U.S. subsidiaries of foreign parent corporations. MADE in the USA Tax Act (S. 3162) - (Title II, Subtitle C, Section 225) sense of the Senate regarding certain reinsurance transactions with foreign related persons; Oversight of the Performance and Effectiveness of National Contracting Act of 2008 (S. 3139) - (Title I, Section 102) prohibition on awarding of government contracts or grants to companies purposefully organized in an offshore secrecy jurisdiction to avoid federal tax obligation; HR 6969 - To amend the Internal Revenue Code of 1986 to disallow the deduction for excess non-taxed reinsurance premiums with respect to United States risks paid to affiliates.
Client expense: $270,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), SENATE, Treasury, Dept of
2008 · third_quarter · Taxation/Internal Revenue Code
Tax treatment of Property and Casualty Insurance and Reinsurance; H.R. 6969
Client expense: Not reported · Firm income: $60,000
Government targets: Executive Office of the President (EOP), HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of
2008 · third_quarter · Taxation/Internal Revenue Code
International taxation: S. 1006; HR 1672; S. 96; S. 681 Taxation on insurance companies; taxation of reinsurance transactions: HR 6969 Tax-deferred catastrophic reserves: Policyholder Disaster Protection Act of 2007 - S. 926, HR 164 Offshore Deferred Compensation Reform Act of 2007 - S. 2199
Client expense: $220,000 · Firm income: Not reported
Government targets: Commerce, Dept of (DOC), HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of, U.S. Trade Representative (USTR), White House Office
2008 · third_quarter · Insurance
Optional Federal Charter for insurers: National Insurance Act of 2007 - S. 40, HR 3200 Office of Insurance Information in the US Department of Treasury: Insurance Information Act of 2008 - HR 5840 Surplus lines: Nonadmitted and Reinsurance Reform Act - HR 1065, S. 929 McCarran-Ferguson repeal: Insurance Industry Competition Act of 2007 - S. 618, HR 1081 Reinsurance International Solvency Standards Evaluation Board Act of 2008 - HR 6213 National Association of Registered Agents and Brokers Reform Act of 2008 - HR 5611 Issues related to using credit in personal lines of insurance - HR 5633, HR 6062 Federal Crop Insurance Program: Farm Bill Extension Act of 2007 - HR 2419, S. 2302 National Flood Insurance Program: Flood Insurance Reform and Modernization Act of 2007 - HR 1682, HR 3121, S. 2284; Multiple Peril Insurance Act of 2007 - HR 920; Flood Insurance Choice Act of 2007 - S. 1890 Medicare Secondary Payer and Workers' Compensation Reform - HR 2549 Issues related to insurance and natural catastrophes - Commission on Catastrophic Disaster Risk and Insurance Act of 2007 - HR 537, S. 292; Homeowners' Protection Act of 2007 - S. 928; Homeowners' Insurance Protection Act of 2007 - HR 91; Homeowners' Insurance Availability Act of 2007 - HR 330; Policyholder Disaster Protection Act of 2007 (tax-deferred catastrophic reserves) - S. 926, HR 164 False Claims Act Correction Act of 2007 - S. 2041, HR 4854 Increasing Insurance Coverage Options for Consumers Act of 2008 - HR 5792 Taxation of Reinsurance Transactions: HR 6969
Client expense: $220,000 · Firm income: Not reported
Government targets: Commerce, Dept of (DOC), HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of, U.S. Trade Representative (USTR), White House Office
2008 · third_quarter · Insurance
S. 1061 - Homeowners Insurance Noncoverage Disclosure Act S. 545 - Passenger Vehicle Loss Disclosure Act of 2007 S. 618 - Insurance Industry Competition Act of 2007 H.R. 1081 - Insurance Industry Competition Act of 2007 S. 40 / H.R. 3200 - National Insurance Act of 2007 H.R. 1065 - Nonadmitted and Reinsurance Reform Act of 2007 S. 618 - Insurance Industry Competition Act of 2007 H.R. 5792 - Increasing Insurance Coverage Options for Consumers Act of 2008 H.R. 5611 - National Association of Registered Agents and Brokers Reform Act of 2008 (NARAB II) H.R. 5840 - Insurance Information Act H.R. 6062 - Personal Lines of Insurance Fairness Act of 2008 H.R. 6969 - Offshore Reinsurance Cessions
Client expense: $944,634 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2008 · third_quarter · Taxation/Internal Revenue Code
HR 6969, To amend the Internal Revenue Code of 1986 to disallow the deduction for excess non-taxed reinsurance premiums with respect to United States risks paid to affiliates. tax treatment of property and casualty insurance and reinsurance
Client expense: Not reported · Firm income: $40,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2008 · third_quarter · Taxation/Internal Revenue Code
HR6969: TO AMEND THE INTERNAL REVENUE CODE OF 1986 TO DISALLOW THE DEDUCTION FOR EXCESS NON-TAXED REINSURANCE PREMIUMS WITH RESPECT TO UNITED STATES RISKS PAID TO AFFILIATES; REINSURANCE RELATED PROVISIONS
Client expense: $60,000 · Firm income: Not reported
Government targets: Federal Emergency Management Agency (FEMA), Federal Trade Commission (FTC), HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of, White House Office
2008 · third_quarter · Taxation/Internal Revenue Code
Cascading taxes for foreign-owned insurers: Advocate against measure that would lead to the imposition of an excise tax twice when insurance or reinsurance is placed from the U.S. to a foreign company and then when the foreign company reinsures the U.S. risk. The IRS issued a ruling on this in March (IRS Ruling 2008-15) Exchange traded notes: For PIMCO followed issue through trade association Investment Company Institute. ETNs are an alternative to mutual funds and enjoy a tax preference. Treasury has recently weighed in and may view this current tax treatment as not appropriate. Annuities tax relief: Support S. 1010 in the Senate and H.R. 2205 in the House, titled the Retirement Security for Life Act, which would exclude from income taxes 50 percent of gross income from annuity payment, not to exceed $20,000 per year. Reinsurance taxation: Advocate against legislation (H.R. 6969, "To Amend the internal Revenue Code of 1986 to disallow the deduction for Excess Non-Taxed Reinsurance Premiums with respect to United States risks paid to affiliates." This bill would prohibit offshore reinsurance affiliates of insurance companies not required to pay U.S. taxes from taking deductions for "excess reinsurance premiums" for domestic risks. Tax Extenders: Lobbied for extension of exemption for foreign shareholders of U.S. mutual funds from a U.S. withholding tax. This was included in the bailout bill. H.R. 1424, signed into law. Tax Extenders: Lobbied for an extension of capital gains tax rate for 2009 and 2010.
Client expense: $350,000 · Firm income: Not reported
Government targets: Commodity Futures Trading Commission (CFTC), HOUSE OF REPRESENTATIVES, Risk Management Agency, SENATE, Securities & Exchange Commission (SEC), State, Dept of (DOS), Treasury, Dept of