,,ii  #aacth ,,congress  #ast ,session  
,s4 #acdf  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,july #bc1     
#bjac ,mr4 ,harkin 7for himself1 ,mr4   
,grassley1 ,ms4 ,klobuchar1 ,mr4        
,rockefeller1 and ,mr4 ,blunt7          
introduced the following bill2 which was
 read twice and referred to the         
,committee on ,finance  ,a ,,bill  ,to  
amend the ,internal ,revenue ,code of   
#aihf to increase the alternative tax   
liability limitation for small property 
and casualty insurance companies4  #a4  
,increase in limitation for alternative 
tax liability for small property and    
casualty insurance companies  7a7 ,in   
,general ,clause 7i7 of section         
#hca7;b77#b77;,a7 of the ,internal      
,revenue ,code of #aihf is amended by   
striking #a1bjj1jjj and inserting       
#b1jab1jjj4  7b7 ,inflation ,adjustment 
,paragraph 7#b7 of section #hca7;b7 of  
such ,code is amended by adding at the  
end the following new subparagraph3     
7,c7 ,inflation adjustment ,in the case 

of any taxable year beginning in a      
calendar year after #bjac1 the dollar   
amount set forth in subparagraph 7,a77i7
 shall be increased by an amount equal  
to--  7i7 such dollar amount1 multiplied
 by  7ii7 the cost-of-living adjustment 
determined under section #a7;f77#c7 for 
such calendar year by substituting      
calendar year #bjab for calendar year   
#aiib in subparagraph 7,b7 thereof4  ,if
 the amount as adjusted under the       
preceding sentence is not a multiple of 
#a1jjj1 such amount shall be rounded to 
the next lowest multiple of #a1jjj4  4  
7c7 ,effective ,date ,the amendments    
made by this section shall apply to     
taxable years beginning after the date  
of the enactment of this ,act4