HB0474 - Tennessee: Charitable Institutions, Commerce And Insurance, Dept. Of, Consumer Protection, Securities

Companion Bill SB0483. Securities - Permits a charitable organization in meeting the requirements to qualify as a qualified charitable gift annuity a deduction for all or any portion of an annuity risk that reflects a reinsurance of this risk by a life insurance company authorized to do business in this state. - Amends TCA Title 56, Chapter 52, Part 1. Fiscal Summary for HB0474 / *SB0483Increase State Expenditures - Not Significant Bill Summary for HB0474 / *SB0483 ON MARCH 19, 2007, THE SENATE ADOPTED AMENDMENT #1 AND PASSED SENATE BILL 483, AS AMENDED. AMENDMENT #1 clarifies that this bill would authorize a charitable organization to deduct all or any portion of an annuity risk that reflects a reinsurance of the risk by a life insurance company authorized to do business in Tennessee, from the minimum of $1,000,000 in unrestricted cash,[...]

show full description