HR 5713 · 94th Congress · Interest

A bill to amend the Internal Revenue Code of 1954 to exclude from gross income the interest on deposits in certain savings institutions.

Introduced 1975-04-08· Sponsored by Rep. Wolff, Lester L. [D-NY-6]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1975-04-08)

Plain Language Summary

[AI summary unavailable — showing source text] Excludes from gross income under the Internal Revenue Code the first $400 ($800 in the case of a joint return) of interest on deposits in savings and loan institutions or credit unions or any other savings institution. States that such exclusion shall be available for taxable years after December 31, 1974.…

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

Cosponsors (1)

1 Republican
Rep. Gilman, Benjamin A. [R-NY-26]