Mississippi Legislature

2000 Regular Session

Senate Bill 2785

Instructions Bill Status Menu




Bill Text

History of Actions

Background

Title

Description: State and School Life Insurance Plan; restructure to avoid imputed federal income tax.

Bill Text: [Introduced]

History of Actions:

102/15/00(S)Referred To Insurance
203/07/00(S)Died In Committee

Background Information:

Effective dateJuly 1, 2000
DispositionDead
DeadlineGeneral Bill/Constitutional Amendment
RevenueNo
3/5ths vote requiredNo

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.


Information pertaining to this measure was last updated on 03/07/00 at 17:40.



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