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United States · Bill · S

S. 1488 (96th)

A bill to amend the Internal Revenue Code of 1954 to provide for the partial exclusion of interest from gross income.

referredUnited States· United States Congress· EN

Introduced

12 July 1979

Last action

12 July 1979 · Introduced

Status

Referred to Senate Committee on Finance.

Sponsors

Sen. Nelson, Gaylord [D-WI], Sen. Randolph, Jennings [D-WV], Sen. Melcher, John [D-MT], Sen. Cochran, Thad [R-MS], Sen. McGovern, George [D-SD], Sen. Huddleston, Walter (Dee) [D-KY], Sen. Boren, David L. [D-OK]

Subjects

Taxation

Source updated

3 January 2025

Taxation

Official sourceView documentsShare

Summary

Amends the Internal Revenue Code to exclude from a taxpayer's gross income interest or dividends on savings deposits or withdrawable savings accounts from a bank or a savings institution. Limits such exclusion to the excess of such interest or dividends for the taxable year over such interest or dividends received during the preceding year, up to a maximum of $100.

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

Timeline

  1. 12 July 1979

    Introduced

    Referred to Senate Committee on Finance.

    Source: IntroReferral

  2. 12 July 1979

    Introduced

    Introduced in Senate

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

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Documents

1 official file

Leesvertaling

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Sponsors

Related records

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Sources

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