HR 905 · 97th 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 1981-01-19· Sponsored by Rep. Nowak, Henry [D-NY-37]· 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 $500 ($1,000 for joint returns) of the interest earned on savings accounts in banks, savings and loan associations, or credit unions.…

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

Cosponsors (1)

1 Democrat
Rep. Luken, Thomas A. [D-OH-2]OH