A bill to amend the Internal Revenue Code of 1954 to exclude from gross income $5,000 of interest on savings for an individual taxpayer.
American Savers Incentive Act of 1981 - Amends the Internal Revenue Code to exclude from the gross income of an individual up to $5,000 of interest income earned on savings accounts held in a domestic savings and loan association, bank credit union, or similar thrift institution.
Became Public Law No: 97-34.
Introduced in House
Introduced in House
Referred to House Committee on Ways and Means.
See H.R.4242.
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