HR 2988 · 97th Congress · Taxation

A bill to amend the Internal Revenue Code of 1954 to provide for the exclusion from gross income of interest on savings deposits which may be used by the financial institution only for mortgages on owner-occupied residences.

Introduced 1981-04-02· Sponsored by Rep. Donnelly, Brian J. [D-MA-11]· 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.(1981-04-02)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to exclude from gross income interest earned on savings deposits which are used by the deposit institution for making mortgages on owner-occupied residences.…

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