CART Act of 2023

Hozzl · 2024-02-01T08:30:26Z

Explore the details of House Bill 3014 CART Act of 2023 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Taxation. Stay informed on legislative developments.

2/1/2024, 8:30 AM

Summary of Bill HR 3014

Bill 118 hr 3014, also known as the Comprehensive Automated Resilient Transportation (CART) Act of 2023, is a piece of legislation introduced in the US Congress. The main goal of this bill is to promote the development and implementation of automated transportation systems in the United States.

The CART Act of 2023 includes provisions for funding research and development of automated transportation technologies, as well as establishing safety standards and regulations for these systems. The bill also aims to improve transportation infrastructure to support the deployment of automated vehicles and other technologies.

Additionally, the CART Act of 2023 includes measures to address cybersecurity concerns related to automated transportation systems, as well as provisions for workforce training and education in the field of automated transportation. Overall, the CART Act of 2023 seeks to advance the use of automated transportation technologies in the United States in order to improve safety, efficiency, and accessibility in the transportation sector.

Congressional Summary of HR 3014

Catastrophic Risk Transfer Act of 2023 or the CART Act of 2023

This bill establishes a system for the taxation of catastrophic risk transfer companies and their security holders to ensure sufficient capital to cover catastrophic insurance losses. The bill defines catastrophic risk as a risk of loss that has a low likelihood of occurring but that would be large in amount.

The bill defines catastrophic risk transfer company as any domestic corporation created and regulated under state law with the purpose of entering into one or more insurance or reinsurance agreements covering catastrophic risk.

Read the Full Bill

Formatted Text PDF Formatted XML

Current Status of Bill HR 3014

Bill HR 3014 is currently in the status of Bill Introduced since April 28, 2023. Bill HR 3014 was introduced during Congress 118 and was introduced to the House on April 28, 2023. Bill HR 3014's most recent activity was Referred to the Committee on Ways and Means, and in addition to the Committee on the Judiciary, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned. as of April 28, 2023

Bipartisan Support of Bill HR 3014

Total Number of Sponsors

Democrat Sponsors

Republican Sponsors

Unaffiliated Sponsors

Total Number of Cosponsors

Democrat Cosponsors

Republican Cosponsors

Unaffiliated Cosponsors

Policy Area and Potential Impact of Bill HR 3014

Primary Policy Focus

Taxation

Alternate Title(s) of Bill HR 3014

CART Act of 2023

Catastrophic Risk Transfer Act of 2023

To amend the Internal Revenue Code of 1986 to establish a system for the taxation of catastrophic risk transfer companies to ensure sufficient capital to cover catastrophic insurance losses, and for other purposes.