HR 6989 · 95th Congress · Taxation

A bill to amend the Internal Revenue Code of 1954 to exempt from taxation certain associations providing reserve funds for and insuring the deposits in savings and loan associations and credit unions.

Introduced 1977-05-06· Sponsored by Rep. Martin, James G. [R-NC-9]· House

Bill Progress

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Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1977-05-06)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to increase the number of mutual deposit guaranty funds qualifying as tax exempt organizations and to allow such organizations to provide reserve funds for, and insure deposits in both savings and loan associations and credit unions.…

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