A bill entitled the "Investment Income Incentive Act of 1981".

Amends the Internal Revenue Code to increase the partial exclusion of dividends and interest income from the gross income of an individual from $250 to $1,250 (from $500 to $2,500 for a married couple filing a joint return) by increments of $250 ($500 for a married couple filing a joint return) over the five year period from 1981 through 1985.

Amends the Crude Oil Windfall Profit Tax Act of 1980 to repeal the termination date for the partial exclusion of dividends and interest from gross income.