A bill to amend the Internal Revenue Code of 1954 to provide that certain bond interest received by individuals 65 or over shall be excluded from gross income.

[AI summary unavailable — showing source text] Excludes from gross income, under the Internal Revenue Code, any amounts received as interest or accrued on any United States Government Series E Savings Bond by an individual taxpayer of 65 years or over if he has held the bond for not less than 5 years. Provides that if a Series E Savings Bond is held jointly by husband and wife, both husband and wife shall be treated as satisfying the ages and holding requirements of the Code. (Amends 56 U.S.C. 154)…