H.R. 6032 · 114th Congress
Data Breach Insurance Act
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Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
D
PerlmutterSponsorNo cosponsors.
This bill amends the Internal Revenue Code to allow a business tax credit for the purchase of qualified data breach insurance. The credit applies for five years and is equal to 15% of the annual premiums paid or incurred for the insurance in the ordinary course of the taxpayer's trade or business.
What it does: CRS summary · Introduced in House · Sep 14, 2016
Data Breach Insurance Act
This bill amends the Internal Revenue Code to allow a business tax credit for the purchase of qualified data breach insurance. The credit applies for five years and is equal to 15% of the annual premiums paid or incurred for the insurance in the ordinary course of the taxpayer's trade or business.
Qualified data breach insurance is coverage provided by an insurance company for expenses or losses in connection with the theft, loss, disclosure, inaccessibility, or manipulation of data.
Insurance does not qualify for the credit unless the taxpayer has adopted and is in compliance with: (1) the Framework for Improving Critical Infrastructure Cybersecurity published by the National Institute of Standards and Technology, or (2) any similar standard specified by the Internal Revenue Service.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: Data Breach Insurance Act
Latest action (Sep 14, 2016): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Sep 14, 2016
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.