HR 16921 · 93th Congress · Taxation

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

Introduced 1974-09-30· Sponsored by Rep. Clausen, Don H. [R-CA-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.(1974-09-30)

Plain Language Summary

[AI summary unavailable — showing source text] Excludes from gross income, under the Internal Revenue Code, the first $1,000 ($2,000 if a joint return is filed) of interest on savings deposits in savings institutions, banks, and credit unions.…

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