Small Savers Act of 1999

Summary

Small Savers Act of 1999 - Amends the Internal Revenue Code to direct the Secretary of the Treasury to prescribe income tax rate tables that increase the maximum taxable income level for the 15 percent rate bracket and the minimum taxable income level for the 28 percent rate bracket by specified dollar amounts beginning with calendar year 2000. Excludes from individual gross income up to $250 ($500 for joint filers) of the sum of dividends from domestic corporations or interest. Sets forth related provisions with respect to: (1) distributions from regulated investment companies and real estate investment trusts; and (2) nonresident aliens. Allows as a deduction an amount equal to the lesser of: (1) the net capital gain of the taxpayer; or (2) $5,000. Increases the $2,000 IRA contribution limit to $3,000.

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Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 11 March 1999

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 11 March 1999

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• Introduced in Senate

  summary · EN · 11 March 1999

  Open at official source

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