A bill to amend the Internal Revenue Code of 1954 to increase and make permanent the exclusion from gross income of interest on All-Savers Certificates.

openUnited States· United States Congress· EN

Introduced

2 February 1982

Last action

—

Status

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

Summary

Amends the Internal Revenue Code, as amended by the Economic Recovery Tax Act of 1981, to increase to $2,000 ($4,000 for joint returns) the amount of the exclusion from gross income for interest received from All Savers Certificates. Repeals the termination date for such exclusion. Revises the formula for determining the amount of the exclusion from gross income for interest received from specified sources which is to take effect in 1985.

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Documents

1 official file

Introduced in Senate
summary · EN · 2 February 1982
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/97th-congress/senate-bill/2053
Open data entity: https://api.congress.gov/v3/bill/97/s/2053