HR 11381 · 95th 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 1978-03-08· Sponsored by Rep. Lent, Norman F. [R-NY-4]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1978-03-08)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to exclude from gross income the first $500 ($1,000 for persons filing joint returns) earned as interest on savings deposits in financial institutions.…

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