A bill to amend the Internal Revenue Code of 1954 to exclude from the gross income of individuals who have attained the age of 62 $3,000 of interest received during any taxable year.

referredUnited States· United States Congress· EN

Introduced

15 January 1979

Last action

—

Status

Referred to House Committee on Ways and Means.

Summary

Amends the Internal Revenue Code to allow an individual age 62 or over an exclusion from gross income of up to $3,000 of interest income that would otherwise be includible. Reduces the amount of the exclusion by one-half of the amount by which the individual's adjusted gross income exceeds $5,500.

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

Timeline

No timeline events have been ingested for this record yet.

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 · 15 January 1979
Open at official source

Related records

No cross-record relationships stored yet.

Sources

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

Official source: https://www.congress.gov/bill/96th-congress/house-bill/541
Open data entity: https://api.congress.gov/v3/bill/96/hr/541