H.R. 16701 — A bill to exclude from gross income the first $750 of interest received from savings account deposits in home lending institutions.

Summary

Excludes from gross income, under the Internal Revenue Code, the first $750 of interest received from savings account deposits in banks and savings institutions which have at least 75 percent of such deposits in specified investments, including loans for residential building purposes.

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Legislative Actions

1974-09-17
Introduced in House
1974-09-17
Introduced in House
1974-09-17
Referred to House Committee on Ways and Means.

A bill to exclude from gross income the first $750 of interest received from savings account deposits in home lending institutions.

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Summary

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