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.

openUnited States· United States Congress· EN

Introduced

22 October 1981

Last action

22 October 1981 · Introduced

Status

For Previous Action See H.R.4704.

Sponsors

Rep. Rudd, Eldon D. [R-AZ-4], Rep. Smith, Joseph F. [D-PA-3], Rep. Wilson, Charles [D-TX-2], Rep. Dunn, Jim [R-MI-6], Rep. Roberts, Clint [R-SD-2], Rep. Hansen, George V. [R-ID-2], Rep. Robinson, J. Kenneth [R-VA-7], Rep. Edwards, Mickey [R-OK-5], Rep. Savage, Gus [D-IL-2], Rep. McCollum, Bill [R-FL-8], Rep. Rhodes, John J. [R-AZ-1], Rep. Evans, Billy Lee [D-GA-8], Rep. Hansen, James V. [R-UT-1], Rep. Dannemeyer, William E. [R-CA-39], Rep. Skeen, Joe [R-NM-2], Rep. Siljander, Mark D. [R-MI-4], Rep. Livingston, Bob [R-LA-1], Rep. Solomon, Gerald B. H. [R-NY-22], Rep. Lewis, Jerry [R-CA-41], Rep. Burgener, Clair W. [R-CA-43], Rep. Latta, Delbert L. [R-OH-5], Rep. Miller, Clarence E. [R-OH-10], Rep. Bliley, Tom [R-VA-7], Rep. Duncan, John J. [R-TN-2], Rep. Daniel, W. C. (Dan) [D-VA-5], Rep. Crane, Daniel B. [R-IL-19], Rep. Dicks, Norman D. [D-WA-6], Rep. Madigan, Edward R. [R-IL-15], Rep. Price, Melvin [D-IL-21], Rep. Pashayan, Charles, Jr. [R-CA-17], Rep. Evans, Thomas B., Jr. [R-DE-At Large], Rep. Campbell, Carroll A., Jr. [R-SC-4], Rep. Fields, Jack [R-TX-8]

Subjects

Housing, Taxation

Source updated

7 February 2024

Housing · Taxation

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Summary

Amends the Internal Revenue Code to allow an income tax exclusion for interest earned on national home ownership bonds. Defines "national home ownership 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 five years and 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

22 October 1981
Committee
For Previous Action See H.R.4704.
Source: Committee
22 October 1981
Introduced
Referred to House Committee on Ways and Means.
Source: IntroReferral
22 October 1981
Introduced
Introduced in House
Source: IntroReferral
22 October 1981
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 · 22 October 1981
Open at official source

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.

Sources

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Official source: https://www.congress.gov/bill/97th-congress/house-bill/4833
Open data entity: https://api.congress.gov/v3/bill/97/hr/4833
us · 97-hr-4833 · source updated 7 February 2024