HR 400 · 95th Congress · Taxation

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

Introduced 1977-01-04· Sponsored by Rep. Holt, Marjorie S. [R-MD-4]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1977-01-04)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to exclude from gross income the first $800 ($1,600 for persons filing joint returns) earned as interest on savings deposits in financial institutions.…

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