HR 16727 · 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 1974-09-18· Sponsored by Rep. Young, Andrew [D-GA-5]· 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.(1974-09-18)

Plain Language Summary

[AI summary unavailable — showing source text] Allows an income tax exclusion under the Internal Revenue Code for the interest on deposits in banks and savings institutions. Limits such tax exclusion to $1,000 ($2,000 if a joint return is filed).…

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