HR 16884 · 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 1974-09-25· Sponsored by Rep. Rinaldo, Matthew J. [R-NJ-12]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Education and Labor.(1974-09-25)

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