A bill to amend the Internal Revenue Code of 1954 to partially exclude interest earned in savings institutions from the gross income of certain taxpayers.
Small Savers' Interest Exclusion Act of 1980 - Amends the Internal Revenue Code to exclude from the gross income of individual taxpayers up to $1,000 ($2,000 for joint returns) of dividends or interest income earned on a deposit in a domestic savings and loan association, bank, credit union, or similar thrift institution.
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
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