A bill to amend the Internal Revenue Code of 1954 to provide for the partial exclusion of interest from gross income.

Amends the Internal Revenue Code to exclude from a taxpayer's gross income interest or dividends on savings deposits or withdrawable savings accounts from a bank or a savings institution. Limits such exclusion to the excess of such interest or dividends for the taxable year over such interest or dividends received during the preceding year, up to a maximum of $100.