A bill to amend the Internal Revenue Code of 1954 to revise the retirement income credit and to increase the amount of such credit.

Summary

Provides a 15 percent retirement income credit to individuals 65 years of age or receiving income from a public retirement system (whether filing jointly, separately, or as an unmarried individual). Specifies, for each filing status, maximum amounts which may be taken into account for purposes of computation of the credit authorized by this Act. Reduces the maximum amounts declarable by the amounts of pensions received that are excluded from gross income, except for amounts received from specified sources. Defines the terms used in this Act.

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Timeline

1. 27 January 1975

   Introduced

   Referred to Senate Committee on Finance.

   Source: IntroReferral

2. 27 January 1975

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

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Documents

1 official file

• Introduced in Senate

  summary · EN · 27 January 1975

  Open at official source

Sponsors

• Sen. Church, Frank [D-ID] · D · Sponsor
• Sen. Clark, Dick [D-IA] · D · Cosponsor
• Sen. Humphrey, Hubert H. [D-MN] · D · Cosponsor
• Sen. Kennedy, Edward M. [D-MA] · D · Cosponsor
• Sen. Huddleston, Walter (Dee) [D-KY] · D · Cosponsor
• Sen. Biden, Joseph R., Jr. [D-DE] · D · Cosponsor
• Sen. Ribicoff, Abraham A. [D-CT] · D · Cosponsor
• Sen. Williams, Harrison A., Jr. [D-NJ] · D · Cosponsor
• Sen. Tunney, John V. [D-CA] · D · Cosponsor
• Sen. Haskell, Floyd K. [D-CO] · D · Cosponsor
• Sen. McIntyre, Thomas J. [D-NH] · D · Cosponsor
• · ssfi00 · Standing

Related records

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