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Political Quotes

John B. Breaux: “Section 761 of the bill provides standards that a State-sponsored workers' compensation company must meet in order to be…”

On the recordJune 27, 1997
Section 761 of the bill provides standards that a State-sponsored workers' compensation company must meet in order to be exempt from Federal income tax for future years. As the chairman is aware, a large number of the States, including Louisiana, have State-sponsored workers' compensation companies that have been operating as tax-exempt agencies for several years. It is my understanding that the standards that we have proposed for the future are intended to codify the standards that exist under present law and that a company, such as the one established by the State of Louisiana, that met these standards in prior years should be confident that it is, in fact, tax exempt under current law.
Said by
John B. Breaux
Source
govinfo.gov

Editor's note · Context

Discussing tax exemption standards for state-sponsored workers' compensation companies.

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