A bill to amend the Internal Revenue Code of 1954 to permit banks, savings and loan institutions, and similar financial institutions to issue tax-exempt certificates for housing purposes.

Summary

Amends the Internal Revenue Code to allow an income tax exclusion for interest earned on national home building bonds. Defines "national home building bonds" as certificates of deposits issued before 1985 which are used to provide owner-financing of single family residences. Requires that such bonds have a maturity rate of three years, an investment yield not exceeding ten percent, and be issued in denominations of at least $1,000. Prescribes percentage tables for determining the interest rate on such financing.

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

Timeline

1. 6 October 1981

   Introduced

   Referred to House Committee on Ways and Means.

   Source: IntroReferral

2. 6 October 1981

   Introduced

   Introduced in House

   Source: IntroReferral

3. 6 October 1981

   Introduced

   Introduced in House

   Source: IntroReferral

4. 22 October 1981

   Committee

   For Further Action See H.R.4833.

   Source: Committee

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 · 6 October 1981

  Open at official source

Sponsors

• Rep. Rudd, Eldon D. [R-AZ-4] · R · Sponsor
• · hswm00 · Standing

Related records

• related to ← A bill to amend the Internal Revenue Code of 1954 to permit banks, savings and loan institutions, and similar financial institutions to issue tax-exempt certificates for housing purposes.