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United States · Bill · HR

H.R. 1541 (97th)

A bill to amend the Internal Revenue Code of 1954 to increase the amount of dividends and interest which are excluded from gross income, and to make such exclusion permanent.

openUnited States· United States Congress· EN

Introduced

2 February 1981

Last action

4 August 1981 · Committee

Status

See H.R.4242.

Sponsors

Rep. Winn, Larry, Jr. [R-KS-3], Rep. Price, Melvin [D-IL-21], Rep. Santini, James D. [D-NV-98], Rep. Pepper, Claude [D-FL-18], Rep. Guyer, Tennyson [R-OH-4], Rep. Jeffries, Jim [R-KS-2], Rep. Daniel, Robert W., Jr. [R-VA-4], Rep. Snyder, M. G. (Gene) [R-KY-4], Rep. Barnard, Doug, Jr. [D-GA-10], Rep. Goldwater, Barry, Jr. [R-CA-20], Rep. Benedict, Cleve [R-WV-2], Rep. Young, Robert A. [D-MO-2], Rep. Railsback, Thomas F. [R-IL-19], Rep. Duncan, John J. [R-TN-2], Rep. Eckart, Dennis E. [D-OH-11], Sen. Wyden, Ron [D-OR], Rep. Coyne, William J. [D-PA-14], Rep. Stangeland, Arlan [R-MN-7], Rep. Lloyd, Marilyn [D-TN-3], Rep. Whittaker, Bob [R-KS-5], Rep. Gingrich, Newt [R-GA-6], Sen. Gregg, Judd [R-NH], Rep. Hyde, Henry J. [R-IL-6], Rep. Dougherty, Charles F. [R-PA-4], Rep. Patterson, Jerry M. [D-CA-38], Rep. Bowen, David R. [D-MS-2], Rep. McKinney, Stewart B. [R-CT-4], Rep. Howard, James J. [D-NJ-3], Rep. Shaw, E. Clay, Jr. [R-FL-22]

Subjects

Taxation

Source updated

7 February 2024

Taxation

Official sourceView documentsShare

Summary

Amends the Internal Revenue Code to increase to $1,000 ($2,000 in the case of a joint return) the amount of interest and dividend income which may be excluded from gross income. Increases such exclusion to $5,000 ($10,000 in the case of a joint return) for individuals who are 65. Amends the Crude Oil Windfall Profit Tax Act of 1980 to repeal the termination date for such exclusion.

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

Timeline

  1. 2 February 1981

    Introduced

    Referred to House Committee on Ways and Means.

    Source: IntroReferral

  2. 2 February 1981

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 2 February 1981

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 4 August 1981

    Committee

    See H.R.4242.

    Source: Committee

Votes

No vote records are attached yet.

Versions

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

Documents

1 official file

Leesvertaling

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Sponsors

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Sources

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