A bill to amend the Internal Revenue Code of 1954 to provide that the tax rules now applicable to savings and loan associations, mutual savings banks, and so forth, shall also be applicable to the comparable mortgage programs now undertaken by national mortgage associations.

Provides that the income tax rules, relating to reserves for losses on loans, now applicable to savings and loan associations and mutual savings banks, shall be applicable to the comparable mortgage programs now undertaken by national mortgage associations. (Amends 26 U.S.C. 593)