HR 701 · 100th Congress · Taxation

A bill to amend the Internal Revenue Code of 1954 to provide individuals a limited exclusion from gross income for interest on deposits in certain savings institutions.

Introduced 1987-01-21· Sponsored by Rep. Solomon, Gerald B. H. [R-NY-24]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1987-01-21)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to exclude from gross income up to $1,250 ($2,500 for joint returns) of interest earned on a savings account maintained in a savings and loan or similar institution.…

Summarized by Claude AI · Non-partisan · For informational purposes only

Cosponsors (1)

1 Republican
Rep. Lagomarsino, Robert J. [R-CA-19]CA