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.

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

1. 9 October 1974

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 9 October 1974

   Introduced

   Introduced in House

   Source: IntroReferral

3. 9 October 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 · 9 October 1974

  Open at official source

Sponsors

• Rep. Long, Clarence D. [D-MD-2] · D · Sponsor
• Rep. Mann, James R. [D-SC-4] · D · Cosponsor
• · hswm00 · Standing

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.