A bill to amend the Internal Revenue Code of 1954 to exclude from gross income the first $5,000 of interest received on certain savings deposits in the case of individuals over 65 years of age.

Summary

Amends the Internal Revenue Code to exclude from the gross income of individuals who have attained age 65 up to $5,000 of interest income earned on a savings account. Reduces the amount excluded by so much of the taxpayer's adjusted gross income as exceeds $10,000.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 24 January 1979

   Introduced

   Introduced in House

   Source: IntroReferral

2. 24 January 1979

   Introduced

   Introduced in House

   Source: IntroReferral

3. 24 January 1979

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

Votes

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Versions

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Documents

1 official file

• Introduced in House

  summary · EN · 24 January 1979

  Open at official source

Sponsors

• Rep. Conte, Silvio O. [R-MA-1] · R · Sponsor
• · hswm00 · Standing

Related records

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