HR 13224 · 93th Congress · Taxation

A bill to amend the Internal Revenue Code of 1954 to exempt certain trust income from the earned income limitation on the low income allowance.

Introduced 1974-03-05· Sponsored by Rep. Quie, Albert H. [R-MN-1]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1974-03-05)

Plain Language Summary

[AI summary unavailable — showing source text] Exempts trust income from the earned income limitation on the low income allowance under the Internal Revenue Code. States that in order to qualify for such exemption the corpus of such trust must be derived entirely from the proceeds of any judgment or settlement of damages for personal injuries.…

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