H.R. 2240 — A bill to increase the amount of the exemption of certain interest and dividend income from taxation, and to make permanent the exemption of interest from taxation.

Summary

Amends the Internal Revenue Code to increase to $1,000 ($2,000 in the case of a joint return) the amount of interest and dividend income which may be excluded from gross income. Amends the Crude Oil Windfall Profit Tax Act of 1980 to repeal the termination date for such exclusion.

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Related Legislation

H.R. 3603Food and Agriculture Act of 1981
1981-10-22Other Measure S.884 (Amended) Passed House in Lieu.
Related
H.R. 4242Economic Recovery Tax Act of 1981
1981-08-13Became Public Law No: 97-34.
Related
S. 142A bill to increase the amount of the exemption of certain interest and dividend income from taxation, and to make permanent the exemption of interest from taxation.
1981-05-04Subcommittee on Savings, Pensions, and Investment. Hearings held.
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Legislative Actions

1981-03-02
Introduced in House
1981-03-02
Introduced in House
1981-03-02
Referred to House Committee on Ways and Means.
1981-03-10
Executive Comment Requested from Treasury.
1981-08-04
See H.R.4242.

A bill to increase the amount of the exemption of certain interest and dividend income from taxation, and to make permanent the exemption of interest from taxation.

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