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HR 3128 102th Congress House Taxation Capital gains tax Corporation taxes Dividend tax Dividends Income tax Interest Real estate investment Tax deductions Tax exclusion Tax rates Trusts and trustees

All-Americans Savings and Investment Incentive Act of 1991

Introduced: July 31, 1991 See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 31, 1991
Referred to the House Committee on Ways and Means.
Jul 31, 1991
Introduced in House
 Plain-English summary Congressional Research Service

All-Americans Savings and Investment Incentive Act of 1991 - Amends the Internal Revenue Code to provide individuals a deduction for capital gains based on the period the asset is held (up to three years). Excludes collectibles from such assets. Makes such deduction an item of tax preferences.

Excludes from gross income interest received during a taxable year up to $350 ($700 in the case of a joint return). Provides a phaseout of such exclusion for incomes over $50,000. Makes such exclusion applicable to distributions from regulated investment companies and real estate investment trusts. Makes certain nonresident aliens ineligible for such exclusion.

What's happening now July 31, 1991

Referred to the House Committee on Ways and Means.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1