HR 1005 · 97th Congress · Taxation

A bill to amend the Internal Revenue Code of 1954 to provide for the exclusion from taxation of interest earned on deposits which are used for residential mortgage lending purposes.

Introduced 1981-01-22· Sponsored by Rep. Archer, Bill [R-TX-7]· 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.(1981-01-22)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to exclude from gross income interest or dividends earned on savings deposits which are used by the deposit institutions for residential mortgage lending purposes.…

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

Cosponsors (20)

6 Democrats14 Republicans
Rep. Lowery, Bill [R-CA-41]CA
Rep. Blanchard, James [D-MI-18]MI
Rep. Rousselot, John H. [R-CA-26]CA
Rep. Atkinson, Eugene V. [D-PA-25]PA
Rep. Spence, Floyd [R-SC-2]SC
Rep. Winn, Larry, Jr. [R-KS-3]KS
Rep. Pritchard, Joel [R-WA-1]WA
Rep. Robinson, J. Kenneth [R-VA-7]VA
Rep. Broomfield, William S. [R-MI-19]MI
Rep. Roberts, Clint [R-SD-2]SD
Rep. Walgren, Doug [D-PA-18]PA
Rep. Patterson, Jerry M. [D-CA-38]CA
Rep. Shelby, Richard C. [D-AL-7]AL
Rep. Chappie, Eugene A. [R-CA-1]CA
Rep. Marlenee, Ron [R-MT-2]MT
Rep. Kramer, Ken [R-CO-5]CO
Rep. Whitehurst, G. William [R-VA-2]VA
Rep. Rudd, Eldon D. [R-AZ-4]AZ
Rep. Barnes, Michael D. [D-MD-8]MD
Rep. Vander Jagt, Guy [R-MI-9]MI