HR 797 · 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 1977-01-04· Sponsored by Rep. Carney, Charles J. [D-OH-19]· 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.(1977-01-04)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to exclude from gross income interest paid or accrued by the taxpayer on savings deposits. Limits this exclusion to $500 per individual.…

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