H.R. 2251 · 109th Congress · 2005–2006
COLI Best Practices Act of 2005
H.R. 2251 in the 109th Congress (2005–2006) was introduced on May 11, 2005, sponsored by Thomas Reynolds with 47 co-sponsors.
During the 109th Congress (2005–2006), George W. Bush was president, and Republicans held majorities in both the House and Senate.
- Status
- Introduced
- Introduced
- May 11, 2005
- Co-sponsors
- 47
- Policy area
- Taxation
What it does
COLI Best Practices Act of 2005 - Amends the Internal Revenue Code to limit the tax exclusion for benefits paid by employer-owned life insurance contracts upon the death of an insured employee, with certain exceptions for directors and highly compensated employees and for proceeds paid to the heirs of an insured employee.
Summary by the nonpartisan Congressional Research Service.
Sponsor
Thomas Reynolds (R-NY). Co-sponsors: 12 Democrats, 35 Republicans.
Where it stands
- IntroducedMay 11, 2005
- Passed the House—
- Passed the Senate—
- Sent to the President—
- Became law—
Latest action: Referred to the House Committee on Ways and Means. (May 11, 2005)
More bills from Thomas Reynolds in the 109th Congress
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- H.R. 1270: To amend the Internal Revenue Code of 1986 to extend the Leaking Underground Storage Tank Trust…
- H.R. 1134: To amend the Internal Revenue Code of 1986 to provide for the proper tax treatment of certain…
- H.R. 3768: Katrina Emergency Tax Relief Act of 2005
- H.R. 4440: Gulf Opportunity Zone Act of 2005
- H.R. 4297: Tax Increase Prevention and Reconciliation Act of 2005
- H.R. 1499: Heroes Earned Retirement Opportunities Act
- H.R. 6111: Tax Relief and Health Care Act of 2006
- H.R. 6131: To permit certain expenditures from the Leaking Underground Storage Tank Trust Fund.
- H.R. 6429: Fallen Firefighters Assistance Tax Clarification Act of 2006
Committees
More
From GovInfo bill records, Congressional Research Service summaries, Voteview roll calls and lobbying reports.
Cite or embed this page
Capitol Receipts, “H.R. 2251 (109th Congress): COLI Best Practices Act of 2005,” https://www.capitolreceipts.com/bill/109-hr-2251/coli-best-practices-act-of-2005 (accessed 2026-10-17).