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United States · Bill · S

S. 701 (97th)

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

17 March 1981 · Committee

Status

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

Sponsors

Sen. Bentsen, Lloyd M. [D-TX], Sen. Boren, David L. [D-OK], Sen. Roth Jr., William V. [R-DE], Sen. Nunn, Sam [D-GA], Sen. Pryor, David H. [D-AR], Sen. Johnston, J. Bennett [D-LA], Sen. Melcher, John [D-MT], Sen. DeConcini, Dennis [D-AZ], Sen. Exon, J. James [D-NE], Sen. Williams, Harrison A., Jr. [D-NJ], Sen. Tower, John G. [R-TX], Sen. Byrd, Robert C. [D-WV], Sen. Sasser, Jim [D-TN], Sen. Huddleston, Walter (Dee) [D-KY], Sen. Randolph, Jennings [D-WV], Sen. Levin, Carl [D-MI], Sen. Burdick, Quentin N. [D-ND], Sen. Hollings, Ernest F. [D-SC], Sen. Cannon, Howard W. [D-NV], Sen. Leahy, Patrick J. [D-VT], Sen. Kasten, Robert W., Jr. [R-WI], Sen. Andrews, Mark [R-ND], Sen. Chiles, Lawton [D-FL], Sen. Ford, Wendell H. [D-KY], Sen. Mathias, Charles McC., Jr. [R-MD], Sen. Specter, Arlen [R-PA], Sen. Mitchell, George J. [D-ME], Sen. Zorinsky, Edward [D-NE], Sen. Dixon, Alan J. [D-IL], Sen. Symms, Steven D. [R-ID], Sen. Heflin, Howell [D-AL], Sen. Helms, Jesse [R-NC], Sen. Hatch, Orrin G. [R-UT], Sen. Proxmire, William [D-WI], Sen. Mattingly, Mack [R-GA], Sen. Riegle, Donald W., Jr. [D-MI]

Subjects

Taxation

Source updated

3 January 2025

Taxation

Official sourceView documentsShare

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.

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

Timeline

  1. 12 March 1981

    Introduced

    Read second time and referred to Senate Committee on Finance.

    Source: IntroReferral

  2. 12 March 1981

    Introduced

    Introduced in Senate

    Source: IntroReferral

  3. 17 March 1981

    Committee

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

    Source: Committee

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

Sources

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