A bill to amend the Internal Revenue Code of 1954 to authorize the President to exempt from interest income, certain residential mortgages purchased from Federal and State chartered savings and loan institutions.

referredUnited States· United States Congress· EN

Introduced

21 May 1981

Last action

—

Status

Referred to House Committee on Ways and Means.

Summary

Amends the Internal Revenue Code to permit the President to: (1) authorize a tax exemption of interest income from residential mortgages purchased from Federal or State chartered savings and loan institutions for a period not greater than six months; and (2) limit the amount of mortgages eligible for a tax exemption by establishing limits for mortgage maturities and interest rates.

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Documents

1 official file

Introduced in House
summary · EN · 21 May 1981
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/97th-congress/house-bill/3671
Open data entity: https://api.congress.gov/v3/bill/97/hr/3671