To provide that interest earned on certain passbook savings accounts shall be excluded from gross income of the taxpayer as an incentive to taxpayers to increase savings in local banks and savings institutions.
Save, America Passbook Savings Act of 1991 - Amends the Internal Revenue Code to exclude from gross income interest earned ($5,000 individual, $10,000 joint return) on certain passbook savings accounts in federally insured institutions.
Introduced in House
Introduced in House
Referred to the House Committee on Ways and Means.
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