HR 5289 · 96th Congress · Taxation

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

Introduced 1979-09-14· Sponsored by Rep. LaFalce, John J. [D-NY-36]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: Referred to House Committee on Ways and Means.(1979-09-14)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to exclude from gross income up to $1,500 ($3,000 for joint returns) of the interest earned on savings accounts in banks, savings associations, or credit unions.…

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