S 2053 · 97th Congress · Taxation

A bill to amend the Internal Revenue Code of 1954 to increase and make permanent the exclusion from gross income of interest on All-Savers Certificates.

Introduced 1982-02-02· Sponsored by Sen. DeConcini, Dennis [D-AZ]· Senate

Bill Progress

✓
Introduced
2
Committee
3
Senate Vote
4
House
5
Enacted
Latest: Committee on Finance requested executive comment from OMB; Treasury Department.(1982-02-05)

Plain Language Summary

[AI summary unavailable — showing source text] Amends the Internal Revenue Code, as amended by the Economic Recovery Tax Act of 1981, to increase to $2,000 ($4,000 for joint returns) the amount of the exclusion from gross income for interest received from All Savers Certificates. Repeals the termination date for such exclusion. Revises the formula for determining the amount of the exclusion from gross income for interest received from specified sources which is to take effect in 1985.…

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

Cosponsors (1)

1 Republican
Sen. Grassley, Chuck [R-IA]IA