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United States · Bill · S

S. 321 (97th)

A bill to amend section 265 of the Internal Revenue Code of 1954 with respect to the deduction, by certain financial institutions, of interest paid on deposits of public funds where those deposits are secured by tax-exempt obligations.

referredUnited States· United States Congress· EN

Introduced

29 January 1981

Last action

29 January 1981 · Introduced

Status

Read second time and referred to Senate Committee on Finance.

Sponsors

Sen. Bentsen, Lloyd M. [D-TX], Sen. Dixon, Alan J. [D-IL], Sen. Tower, John G. [R-TX], Sen. Pryor, David H. [D-AR], Sen. Goldwater, Barry [R-AZ], Sen. Ford, Wendell H. [D-KY], Sen. DeConcini, Dennis [D-AZ], Sen. D'Amato, Alfonse [R-NY], Sen. Zorinsky, Edward [D-NE], Sen. Inouye, Daniel K. [D-HI], Sen. Eagleton, Thomas F. [D-MO], Sen. Wallop, Malcolm [R-WY], Sen. Lugar, Richard G. [R-IN], Sen. Cochran, Thad [R-MS], Sen. Moynihan, Daniel Patrick [D-NY], Sen. Simpson, Alan K. [R-WY], Sen. Sasser, Jim [D-TN], Sen. Cranston, Alan [D-CA], Sen. Heflin, Howell [D-AL], Sen. Mitchell, George J. [D-ME], Sen. Roth Jr., William V. [R-DE], Sen. Danforth, John C. [R-MO], Sen. Percy, Charles H. [R-IL], Sen. Jepsen, Roger W. [R-IA], Sen. Cannon, Howard W. [D-NV]

Subjects

Taxation

Source updated

3 January 2025

Taxation

Official sourceView documentsShare

Summary

Amends the Internal Revenue Code to exempt interest paid on deposits by State and local governments of public funds, which are secured by tax-exempt securities, from provisions of the Internal Revenue Code which disallow income tax deductions for interest paid with respect to tax-exempt financing.

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

Timeline

  1. 29 January 1981

    Introduced

    Read second time and referred to Senate Committee on Finance.

    Source: IntroReferral

  2. 29 January 1981

    Introduced

    Introduced in Senate

    Source: IntroReferral

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

Related records

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Sources

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