H.R. 3997 — A bill to amend the Internal Revenue Code of 1954 to exempt certain trust income from the earned income limitation on the low-income allowance.

Summary

Revises the Internal Revenue Code to exempt trust income from the earned income limitation on the low income allowance, if the corpus of such trust is derived entirely from the proceeds of any judgement or settlement of a suit for recovery of damages for personal injuries.

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Legislative Actions

1975-02-27
Introduced in House
1975-02-27
Introduced in House
1975-02-27
Referred to House Committee on Ways and Means.

A bill to amend the Internal Revenue Code of 1954 to exempt certain trust income from the earned income limitation on the low-income allowance.

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Summary

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