June 3, 1999
Senate Committee Passes 'Split-Dollar' Provision
The Senate Finance Committee has approved legislation that would effectively abolish a controversial giving technique in which charities and donors divide the proceeds of life-insurance policies purchased with tax-deductible contributions.
The provision is included in the Affordable Education Act, a package of savings incentives and related tax proposals that was put together by Finance Committee Chairman William V. Roth, a Delaware Republican.
The
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