HR 13099 · 93th Congress · Interest

A bill to amend section 6049(b) (2) of the Internal Revenue Code of 1954 in order to exempt from interest for purposes of information returns amounts forfeited to banks and loan associations as penalties for premature withdrawal of funds from time savings accounts or deposits.

Introduced 1974-02-27· Sponsored by Rep. Thone, Charles [R-NE-1]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1974-02-27)

Plain Language Summary

[AI summary unavailable — showing source text] Exempts from interest for purposes of information returns under the Internal Revenue Code amounts forfeited to banks and savings and loan associations as penalties for premature withdrawal of funds from time savings accounts or deposits. (Amends 26 U.S.C. 6049 (b) (2))…

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