An original bill to amend the Internal Revenue Code of 1986 to increase the limitation on eligibility for the alternative tax for certain small insurance companies.

Bill 114 s 905, also known as the Small Insurance Company Tax Reform Act, aims to amend the Internal Revenue Code of 1986 in order to increase the limitation on eligibility for the alternative tax for certain small insurance companies. The bill seeks to provide relief for small insurance companies by adjusting the tax limitations that they are subject to under the current tax code.

Specifically, the bill proposes to raise the threshold for small insurance companies to qualify for the alternative tax, which would allow them to potentially pay lower taxes and reduce their financial burden. This change is intended to support small insurance companies and help them remain competitive in the industry.

Overall, Bill 114 s 905 is focused on providing tax relief and support for small insurance companies by adjusting the limitations on eligibility for the alternative tax. This legislation aims to promote growth and stability within the insurance industry while ensuring that small companies are not unfairly burdened by excessive taxes.