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United States · Bill · HR

H.R. 7742 (96th)

Small Savers and Small Investors Income Tax Amendments of 1980

referredUnited States· United States Congress· EN

Introduced

2 July 1980

Last action

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Status

Referred to House Committee on Ways and Means.

Sponsors

—

Subjects

Discovery layer

Source updated

2 September 2025

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Summary

Small Savers and Small Investors Income Tax Amendments of 1980 - Amends the Internal Revenue Code to increase the aggregate income tax exclusion for interest and dividend income from $200 to $400 ($800 for joint returns). Increases the amount of such exclusion for elderly taxpayers (age 65 or older) to $3,000. Makes such tax exclusion permanent. Permits taxpayers to elect a refundable income tax credit of $600 in lieu of the tax exclusion for interest and dividend income.

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1 official file

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