A bill to amend the Internal Revenue Code of 1954 to permit the exclusion from gross income of a portion of the compensation received by full-time law enforcement officers and firemen employed by State and local governmental instrumentalities.

Permits under the Internal Revenue Code of 1954 the exclusion from gross income of up to $200 per month of the compensation received by full-time law enforcement officers and firemen employed by State and local governmental instrumentalities. (Amends 26 U.S.C. 124)