United States · Bill · S
S. 728 (93rd)
A bill to amend the Internal Revenue Code of 1954 to permit a deduction from gross income based upon the cost of living in certain States.
Introduced
1 February 1973
Last action
—
Status
Referred to Senate Committee on Finance.
Sponsors
—
Subjects
Discovery layer
Source updated
1 August 2024
Summary
Permits a tax deduction, under the Internal Revenue Code of 1954 from gross income based upon the cost of living in the taxpayer's State, provided such taxpayer is not a federal employee. Allows as a tax deduction a percentage of the total amount of the personal exemptions to which the taxpayer is entitled equal to the percentage by which the cost of living in the State in which he resides exceeds the average cost of living in the United States for that year, as determined by the Secretary of the Treasury or his delegate. (Amends 26 U.S.C. 218)
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Votes
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Versions
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Documents
1 official file
Introduced in Senate
summary · EN · 1 February 1973
Sponsors
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Related records
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Sources
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- Official source: https://www.congress.gov/bill/93rd-congress/senate-bill/728
- Open data entity: https://api.congress.gov/v3/bill/93/s/728