Savings and Investment Act

Summary

Savings and Investment Act-Increases the investment credit, under the Internal Revenue Code, from 7 to 15 percent. Increases the variance from 20 to 40 percent, under the provisions of Internal Revenue Code relating to class lives for purposes of depreciation. Permits a 12-month amortization of pollution control facilities. Permits an income tax exclusion for capital gains from securities sales or exchanges under $1000. Allows an increased tax credit of up to $200 for an amount equal to 10 percent of qualified savings deposits during a taxable year.

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

Timeline

1. 12 September 1974

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 12 September 1974

   Introduced

   Introduced in House

   Source: IntroReferral

3. 12 September 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 · 12 September 1974

  Open at official source

Sponsors

• Rep. Kemp, Jack [R-NY-38] · R · Sponsor
• · hswm00 · Standing

Related records

• related to ← Savings and Investment Act