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United States · Bill · S

S. 1072 (97th)

Residential Housing Tax Incentives Act of 1981

openUnited States· United States Congress· EN

Introduced

30 April 1981

Last action

6 May 1981 · Committee

Status

Committee on Finance requested executive comment from OMB; Treasury Department.

Sponsors

Sen. Boren, David L. [D-OK], Sen. Nunn, Sam [D-GA], Sen. Bentsen, Lloyd M. [D-TX], Sen. Kasten, Robert W., Jr. [R-WI], Sen. Jackson, Henry M. [D-WA], Sen. Melcher, John [D-MT], Sen. Proxmire, William [D-WI], Sen. Johnston, J. Bennett [D-LA], Sen. Chiles, Lawton [D-FL], Sen. DeConcini, Dennis [D-AZ], Sen. Heflin, Howell [D-AL]

Subjects

Housing, Taxation

Source updated

29 August 2025

Housing · Taxation

Official sourceView documentsShare

Summary

Residential Housing Tax Incentives Act of 1981 - Amends the Internal Revenue Code to exclude from gross income, for income tax purposes, interest earned on qualified housing savings certificates. Limits such exclusion to interest earned on $100,000 certificates ($200,000 if joint return is filed). Defines "qualified housing savings certificates" as investment certificates issued by regulated depository financial institutions with three or five year maturities. Specifies that the proceeds of such certificates be applied to the financing of single-family, owner-occupied residences. Prescribes limitations on the interest rate chargeable for mortgages financed with proceeds from a qualified housing savings certificate. Disqualifies families which have income more than twice the median family income for their area from receiving a mortgage financed from proceeds from a qualified housing savings certificate. Prescribes penalties for the improper use of qualified housing savings certificates.

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

Timeline

  1. 30 April 1981

    Introduced

    Read second time and referred to Senate Committee on Finance.

    Source: IntroReferral

  2. 30 April 1981

    Introduced

    Introduced in Senate

    Source: IntroReferral

  3. 6 May 1981

    Committee

    Committee on Finance requested executive comment from OMB; Treasury Department.

    Source: Committee

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

1 official file

Leesvertaling

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Sponsors

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Sources

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