Benefits consortium; sponsoring association. Provides that the sponsoring association of a benefits consortium that offers health benefit plans to the members of such sponsoring association may operate as a nonprofit entity under § 501(c)(3), 501(c)(5), or 501(c)(6) of the Internal Revenue Code. Under current law, such a sponsoring association may only operate under § 501(c)(5) or 501(c)(6) of the Internal Revenue Code.

Statutes affected:
Introduced: 38.2-3431