HR 14859 · 93th Congress · Taxation

A bill to amend the Internal Revenue Code of 1954 to exclude from gross income the interest on deposits in certain savings institutions.

Introduced 1974-05-16· Sponsored by Rep. Wolff, Lester L. [D-NY-6]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1974-05-16)

Plain Language Summary

[AI summary unavailable — showing source text] Excludes from gross income, under the Internal Revenue Code, the interest on deposits in qualified savings institutions and credit unions. Limits such tax exclusion to $400 for an individual during a calendar year.…

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