HR 3959 · 97th 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 1981-06-18· Sponsored by Rep. Byron, Beverly B. [D-MD-6]· House

Bill Progress

✓
Introduced
2
Committee
3
House Vote
4
Senate
5
Enacted
Latest: See H.R.4242.(1981-08-04)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to exclude from gross income up to $1,250 ($2,500 for joint returns) of the interest earned on a savings account.…

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