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Pub. L. 109–280, title VIII, § 844(b), (g)(1), (2), Aug. 17, 2006, 120 Stat. 1010, 1013, provided that, applicable to contracts issued after Dec. 31, 1996, but only with respect to taxable years beginning after Dec. 31, 2009, and to exchanges occurring after Dec. 31, 2009, this section is amended as follows: (1) in subsection (a)(1), by inserting “or for a qualified long-term care insurance contract” before the semicolon at the end; (2) in subsection (a)(2), by inserting “, or (C) for a qualified long-term care insurance contract” before the semicolon at the end and by striking out “or” at the end; (3) in subsection (a)(3), by inserting “or for a qualified long-term care insurance contract” before the period at the end and by substituting “; or” for the period at the end; (4) by adding subsection (a)(4) to read as follows:
TITLE 26 > Subtitle A > CHAPTER 1 > Subchapter O > PART III > § 1035
NOTES:
Source
(Aug. 16, 1954, ch. 736, 68A Stat. 309; Pub. L. 98–369, div. A, title II, §§ 211(b)(15),
224
(a), July 18, 1984, 98 Stat. 756, 776; Pub. L. 99–514, title XVIII, § 1828, Oct. 22, 1986, 100 Stat. 2851; Pub. L. 105–34, title XI, § 1131(b)(1), Aug. 5, 1997, 111 Stat. 979; Pub. L. 109–280, title VIII, § 844(b), Aug. 17, 2006, 120 Stat. 1010.)
Amendment of Section
Pub. L. 109–280, title VIII, § 844(b), (g)(1), (2), Aug. 17, 2006, 120 Stat. 1010, 1013, provided that, applicable to contracts issued after Dec. 31, 1996, but only with respect to taxable years beginning after Dec. 31, 2009, and to exchanges occurring after Dec. 31, 2009, this section is amended as follows: (1) in subsection (a)(1), by inserting “or for a qualified long-term care insurance contract” before the semicolon at the end; (2) in subsection (a)(2), by inserting “, or (C) for a qualified long-term care insurance contract” before the semicolon at the end and by striking out “or” at the end; (3) in subsection (a)(3), by inserting “or for a qualified long-term care insurance contract” before the period at the end and by substituting “; or” for the period at the end; (4) by adding subsection (a)(4) to read as follows:
“(4) a qualified long-term care insurance contract for a qualified long-term care insurance contract.”;
(5) in subsection (b)(2), by inserting at the end “For purposes of the preceding sentence, a contract shall not fail to be treated as an annuity contract solely because a qualified long-term care insurance contract is a part of or a rider on such contract.”; and
(6) in subsection (b)(3), by inserting at the end “For purposes of the preceding sentence, a contract shall not fail to be treated as a life insurance contract solely because a qualified long-term care insurance contract is a part of or a rider on such contract.”
Codification
Another section 1131(b) of Pub. L. 105–34 enacted section
684 of this title.
Amendments
1997—Subsecs. (c), (d). Pub. L. 105–34 added subsec. (c) and redesignated former subsec. (c) as (d).
1986—Subsec. (b)(1). Pub. L. 99–514 struck out “subject to tax under subchapter L” after “with an insurance company”.
1984—Subsec. (b)(1). Pub. L. 98–369, § 224(a), which directed the substitution of “an insurance company subject to tax under subchapter L” for “a life insurance company as defined in section
801”, was executed by making such substitution for “a life insurance company as defined in section
816” to reflect the probable intent of Congress and the earlier amendment by Pub. L. 98–369, § 211(b)(15), which substituted “as defined in section
816” for “as defined in section
801”.
Effective Date of 2006 Amendment
Amendment by Pub. L. 109–280 applicable to contracts issued after Dec. 31, 1996, but only with respect to taxable years beginning after Dec. 31, 2009, and to exchanges occurring after Dec. 31, 2009, see section 844(g)(1), (2) of Pub. L. 109–280, set out as a note under section
72 of this title.
Effective Date of 1986 Amendment
Amendment by Pub. L. 99–514 effective, except as otherwise provided, as if included in the provisions of the Tax Reform Act of 1984, Pub. L. 98–369, div. A, to which such amendment relates, see section 1881 of Pub. L. 99–514, set out as a note under section
48 of this title.
Effective Date of 1984 Amendment
Amendment by section 211(b)(5) of Pub. L. 98–369 applicable to taxable years beginning after Dec. 31, 1983, see section 215 of Pub. L. 98–369, set out as an Effective Date note under section
801 of this title.
Section 224(b) of Pub. L. 98–369 provided that: “The amendment made by subsection (a) [amending this section] shall apply to all exchanges whether before, on, or after the date of the enactment of this Act [July 18, 1984].”
Plan Amendments Not Required Until January 1, 1989
For provisions directing that if any amendments made by subtitle A or subtitle C of title XI [§§ 1101–1147 and
1171–1177] or title XVIII [§§ 1800–1899A] of Pub. L. 99–514 require an amendment to any plan, such plan amendment shall not be required to be made before the first plan year beginning on or after Jan. 1, 1989, see section 1140 of Pub. L. 99–514, as amended, set out as a note under section
401 of this title.
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