A bill to amend the Internal Revenue Code of 1954 to permit taxpayers to utilize the deduction for personal exemptions as under present law or to claim a credit against tax of $200 for each such exemption.

Summary

Allows an individual, under the Internal Revenue Code, a credit against tax of $200 multiplied by the number of personal exemptions. Provides that such election to take a credit in lieu of deduction for exemptions shall apply with respect to taxable years beginning after December 31, 1973.

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

Timeline

1. 26 March 1974

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 26 March 1974

   Introduced

   Introduced in House

   Source: IntroReferral

3. 26 March 1974

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

• Introduced in House

  summary · EN · 26 March 1974

  Open at official source

Sponsors

• Rep. Van Deerlin, Lionel [D-CA-42] · D · Sponsor
• · hswm00 · Standing

Related records

• related to → A bill to amend the Internal Revenue Code of 1954 to permit taxpayers to utilize the deduction for personal exemptions as under present law or to claim a credit against tax of $200 for each such exemption.