A bill to provide a tax credit or an exclusion from gross income for certain interest on savings received by individuals.

[AI summary unavailable — showing source text] Allows, under the Internal Revenue Code, a tax credit of one-third or up to $260 for interest on savings received from a financial institution; or allows a tax exclusion of up to $1000 for dividends or interest on savings deposits or withdrawable savings received by individuals whose tax rate is 49 percent or less.…