Bill Text | History of Actions | Background | Title |
Description: State and School Life Insurance Plan; restructure to avoid imputed federal income tax.
Bill Text: [Introduced]
| 1 | 02/15/00 | (S) | Referred To Insurance | |
| 2 | 03/07/00 | (S) | Died In Committee |
| Effective date | July 1, 2000 | |
| Disposition | Dead | |
| Deadline | General Bill/Constitutional Amendment | |
| Revenue | No | |
| 3/5ths vote required | No |
Senate Committee:
Principal Author: Kirby
Additional Author: Robertson
Code Sections: A 025-0015-0009, A 025-0015-0015
Title: AN ACT TO AMEND SECTION 25-15-9, MISSISSIPPI CODE OF 1972, TO REQUIRE THE RESTRUCTURING OF THE STATE AND SCHOOL LIFE INSURANCE PLAN INTO TWO SEPARATE POLICIES SUCH THAT NO COVERED EMPLOYEE SHALL HAVE IMPUTED INCOME UNDER FEDERAL INCOME TAX RULES DUE TO THE STATE AND SCHOOL LIFE INSURANCE PLAN; TO AMEND SECTION 25-15-15, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT ANY COMMUNITY/JUNIOR COLLEGE DISTRICT OR PUBLIC SCHOOL DISTRICT THAT IS CONTRIBUTING TO THE COST OF GROUP TERM LIFE INSURANCE FOR ITS EMPLOYEES FROM LOCAL OR NONMINIMUM PROGRAM FUNDS MAY REDUCE THE AMOUNT OF LOCAL OR NONMINIMUM PROGRAM FUNDS CONTRIBUTED TOWARD CERTIFIED EMPLOYEES' COMPENSATION BY THE AMOUNT OF FUNDS CONTRIBUTED TOWARD THE COST OF GROUP TERM LIFE INSURANCE; AND FOR RELATED PURPOSES.
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2000/html/History/SB/SB2785.htm