A bill to amend the Internal Revenue Code of 1954 to treat mutual banks having capital stock represented by shares in the same manner as other mutual banks for purposes of the bad debt reserve deduction.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to treat mutual banks having capital stock represented by shares in the same manner as other mutual banks for purposes of the bad debt reserve deduction. (Present law restricts such income tax deduction to mutual saving banks, building and loan associations, or cooperative banks without capital stock.)…