The short name for the new Bill introduced into the Senate is titled “Legal Services Benefit Act of 2009”
The intent is to amend the Internal Revenue Code of 1986 to restore, increase, and make permanent the exclusion from gross income for amounts received under qualified group legal services plans. The bill was referred to the Committee on Finance.
This bill would restore the pre-tax status for group legal employee benefits. If passed, it would be effective beginning after the December 31, 2008 taxable year.
Senator Blanche Lincoln (D-AR) and Senator Olympia Snowe (R-ME) introduced the bill.
Democratic Senator Blanche Lincoln of Arkansas made history as the youngest woman ever elected to the US Senate in 1998. Born in 1960, she has also served in the House of Representatives from 1993-1996.
Republican Senator Olympia Snowe of Maine has served in the US Senate since 1995. Born in 1947, she has also served in the House of Representatives from 1979 until her election into her current Senate seat.