Sen. Bunning Honored by IIABA
NU Online News Service, April 23, 3:46 p.m. EDT?U.S. Sen. Jim Bunning, R-Ky., was among several persons honored for their work on legislative issues over the past year by the Independent Insurance Agents & Brokers of America.[@@]
Mr. Bunning received the 2003 Gerald Solomon Legislator of the Year Award this week during the association's 28th annual National Legislative Conference in Washington, D.C.
Robert A. Rusbuldt, the Alexandria, Va.-based association's chief executive officer, said the senator's legislative efforts last year and throughout his tenure in the Senate have helped independent agents and brokers and all small-business owners throughout the country.
In 2003, Mr. Bunning joined with Sen. John Breaux, D-La., to introduced legislation to amend the tax code to allow the write-off of the first $5 million of intangible assets in the year of purchase, with the remainder to be depreciated ratably over 14 years.
The honor is named as a tribute to the late Rep. Gerald Solomon, R-N.Y., the former House Rules Committee chairman and an IIABA member who served for 20 years in the House of Representatives.
Ronald Tubertini, chairman of the IIABA's Government Affairs Committee, received the Sidney O. Smith Award.
Mr. Tubertini was honored for his leadership of the committee. He led the association's activities on legislative issues affecting independent agents and brokers, including continuing and modernizing state regulation of insurance, the renewal of the federal flood insurance program, and the introduction of legislation to speed up the depreciation schedule of intangible assets.
The Independent Insurance Agents of New Jersey Inc. received the Maurice G. Herndon National Legislative Award for its efforts on behalf of auto insurance reform legislation in the state.
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