A bill to amend the Internal Revenue Code of 1954 to provide that the first $5,000 of the income of a retired teacher shall be exempt from income tax.

[AI summary unavailable — showing source text] Provides, under the Internal Revenue Code, that in the case of a retired teacher, gross income does not include so much of the income received during the taxable year, and otherwise includible in gross income, as does not exceed $5,000.…