S 2902 · 96th Congress · Taxation

A bill to amend the Internal Revenue Code of 1954 with respect to exemption from income taxation of certain mutual deposit guaranty funds.

Introduced 1980-06-28· Sponsored by Sen. Mathias, Charles McC., Jr. [R-MD]· Senate

Bill Progress

✓
Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Referred to Senate Committee on Finance.(1980-06-28)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to exempt from income taxation mutual deposit guaranty funds organized before January 1, 1963 (currently, only those funds organized before September 1, 1957 are so exempt). Applies this Act to taxable years ending after December 31, 1967.…

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

Cosponsors (1)

1 Democrat
Sen. Sarbanes, Paul S. [D-MD]MD