A bill to amend the Internal Revenue Code of 1954 to provide individuals a limited exclusion from gross income for interest on deposits in certain savings institutions.

referredUnited States· United States Congress· EN

Introduced

2 October 1974

Last action

2 October 1974 · Introduced

Status

Referred to House Committee on Ways and Means.

Sponsors

Rep. Long, Clarence D. [D-MD-2], Rep. Conyers, John, Jr. [D-MI-13], Rep. Yates, Sidney R. [D-IL-9], Rep. Mayne, Wiley [R-IA-6], Rep. Fuqua, Don [D-FL-2], Rep. Hechler, Ken [D-WV-4], Rep. Ketchum, William M. [R-CA-18], Rep. Gunter, Bill [D-FL-5], Rep. Eilberg, Joshua [D-PA-4], Rep. Taylor, Roy A. [D-NC-11], Rep. Gaydos, Joseph M. [D-PA-20], Rep. Conlan, John B. [R-AZ-4], Rep. Wilson, Charles H. [D-CA-31], Rep. Alexander, Bill [D-AR-1], Rep. Hanrahan, Robert P. [R-IL-3], Rep. Murtha, John P. [D-PA-12], Del. Won Pat, Antonio B. [D-GU-At Large], Rep. Cleveland, James C. [R-NH-2], Del. Fauntroy, Walter E. [D-DC-At Large], Sen. Riegle, Donald W., Jr. [D-MI], Rep. Boland, Edward P. [D-MA-2], Sen. Heinz, John [R-PA], Rep. Guyer, Tennyson [R-OH-4]

Subjects

Taxation

Source updated

1 August 2024

Taxation

Official source View documents Share

Summary

Allows an income tax exclusion under the Internal Revenue Code for interest on deposits in banks, savings institutions, and credit unions. Limits such tax exclusion to $500 ($1000 if a joint return is filed).

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

Timeline

2 October 1974
Introduced
Referred to House Committee on Ways and Means.
Source: IntroReferral
2 October 1974
Introduced
Introduced in House
Source: IntroReferral
2 October 1974
Introduced
Introduced in House
Source: IntroReferral

Votes

No vote records are attached yet.

Versions

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Documents

1 official file

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Introduced in House
summary · EN · 2 October 1974
Open at official source

Related records

related to → A bill to amend the Internal Revenue Code of 1954 to provide individuals a limited exclusion from gross income for interest on deposits in certain savings institutions.

Sources

PoliticalRepo is an index and interpretation layer, not the authoritative legal source.

Official source: https://www.congress.gov/bill/93rd-congress/house-bill/17033
Open data entity: https://api.congress.gov/v3/bill/93/hr/17033
us · 93-hr-17033 · source updated 1 August 2024