S.3548 - Extend COBRA Premium Assistance Program Act of 2010111th Congress (2009-2010)
Summary: S.3548 — 111th Congress (2009-2010)
Introduced in Senate (06/29/2010)
Extend COBRA Premium Assistance Program Act of 2010 - Amends the American Recovery and Reinvestment Act of 2009 to extend premium assistance for COBRA coverage (health insurance continuation benefits) until November 30, 2010. Limits premium assistance to a period of six months for individuals who are terminated from employment after June 1, 2010.
Revises rules for valuing assets in grantor retained annuity trusts to require that: (1) the right to receive fixed amounts from an annuity last for a term of not less than 10 years; (2) such fixed amounts not decrease during the first 10 years of the annuity term; and (3) the remainder interest have a value greater than zero when transferred.