A bill to amend the Internal Revenue Act of 1954 to provide for the exclusion from taxation of interest earned on deposits which are used for residential mortgage lending purposes.

openUnited States· United States Congress· EN

Introduced

12 March 1981

Last action

—

Status

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

Summary

Amends the Internal Revenue Code to exclude from gross income interest or dividends earned on savings deposits which are used by the deposit institutions for residential mortgage lending purposes.

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Documents

1 official file

Introduced in Senate
summary · EN · 12 March 1981
Open at official source

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Sources

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Official source: https://www.congress.gov/bill/97th-congress/senate-bill/701
Open data entity: https://api.congress.gov/v3/bill/97/s/701