HR 16680 · 93th Congress · Taxation

A bill to amend the Internal Revenue Code of 1954 to provide a limited exclusion from gross income for interest on deposits in banks and certain other savings institutions.

Introduced 1974-09-17· Sponsored by Rep. Bauman, Robert E. [R-MD-1]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1974-09-17)

Plain Language Summary

[AI summary unavailable — showing source text] Allows an income tax exclusion under the Internal Revenue Code for interest on deposits in banks and other savings institutions, and credit unions. Limits such tax exclusion to $750 ($1500 if a joint return is filed).…

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