While I can find infor regarding the code and the benefits I can't
find out the history of the code, ie., who was responsible for the
code, are there any precedents, etc. A bit of humorous info would be
helpful too...

You can find the text of the code at
http://www4.law.cornell.edu/uscode/26/125.html.

On the right of this page are numerous links to additional
information.  If you select the "Notes" option, you can see a listing
of Public Laws that established and ammended the provisions of this
section.  That will give you some of the legislative history of the
bill, and at least give you the sponsors.  It can also give a time
frame of when various parts of the bill were passed, so someone could
look for news articles around those times.

You might also find this page interesting:
http://www.house.gov/reform/civil/schneidertestimony52102.htm