A bill to amend section 501 (c) of the Internal Revenue Code of 1954.

Summary

Amends the Internal Revenue Code to increase the number of mutual deposit guaranty funds qualifying as tax exempt organizations and to allow such organizations to provide reserve funds for, and insure deposits in both savings and loan associations and credit unions.

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

Timeline

1. 17 May 1977

   Introduced

   Introduced in Senate

   Source: IntroReferral

2. 17 May 1977

   Introduced

   Referred to Senate Committee on Finance.

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

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

Documents

1 official file

• Introduced in Senate

  summary · EN · 17 May 1977

  Open at official source

Sponsors

• Sen. Morgan, Robert B. [D-NC] · D · Sponsor
• Sen. Helms, Jesse [R-NC] · R · Cosponsor
• Sen. Sarbanes, Paul S. [D-MD] · D · Cosponsor
• Sen. Mathias, Charles McC., Jr. [R-MD] · R · Cosponsor
• · ssfi00 · Standing

Related records

• related to → A bill to amend the Internal Revenue Code of 1954 to exempt from taxation certain associations providing reserve funds for and insuring the deposits in savings and loan associations and credit unions.