S 1582 · 97th Congress · Taxation

A bill to amend the Internal Revenue Code of 1954 to exempt from taxation certain trusts established for the benefit of parents or handicapped relatives, and to provide a deduction for contributions to such trusts.

Introduced 1981-07-31· Sponsored by Sen. Jepsen, Roger W. [R-IA]· Senate

Bill Progress

✓
Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Committee on Finance requested executive comment from OMB; Treasury Department.(1981-08-04)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to establish a tax-exempt trust for the care of the parents and handicapped dependents of the taxpayer. Allows a $3,000 income tax deduction for contributions to such a trust.…

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

Cosponsors (1)

1 Republican
Sen. Helms, Jesse [R-NC]NC