HR 971 · 108th Congress · Taxation

Small Savers Relief Act of 2003

Introduced 2003-02-27· Sponsored by Rep. Bachus, Spencer [R-AL-6]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to the House Committee on Ways and Means.(2003-02-27)

Plain Language Summary

[AI summary unavailable — showing source text] Small Savers Relief Act of 2003 - Amends the Internal Revenue Code to exclude up to $100 ($200 for joint filers) of interest earned by individuals from gross income. Provides special rules for: (1) distributions from trusts, regulated investment companies, and real estate investment trusts; and (2) nonresident alien eligibility for such exclusion. Increases the threshold for reporting interest paid from $10 to $100.…

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