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HR 1005 97th Congress House Taxation Finance and Financial Sector Housing and Housing Finance Housing finance Income tax Interest Mortgage banks Mortgages Savings accounts Tax exclusion

A bill to amend the Internal Revenue Code of 1954 to provide for the exclusion from taxation of interest earned on deposits which are used for residential mortgage lending purposes.

Introduced: January 22, 1981 See on congress.gov
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This bill died when the 97th Congress ended
It never became law before the 97th Congress (1981–1982) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jan 22, 1981
Referred to House Committee on Ways and Means.
Jan 22, 1981
Introduced in House
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 Plain-English summary Congressional Research Service

Amends the Internal Revenue Code to exclude from gross income interest or dividends earned on savings deposits which are used by the deposit institutions for residential mortgage lending purposes.

What's happening now January 22, 1981

Referred to House Committee on Ways and Means.

 Related & companion bills 2
  • HR 3895 Identical bill A bill to amend the Internal Revenue Code of 1954 to provide for the exclusion from taxation of interest earned on depo…
  • S 701 Identical bill A bill to amend the Internal Revenue Act of 1954 to provide for the exclusion from taxation of interest earned on depos…
 Committees of jurisdiction 1
 Cosponsors 1
All 1 Democratic 1
D
Wyden, Ron
Oregon · Jun 2, 1981
Cite this page click to expand
APA
U.S. Congress. (2026). H.R. 1005: A bill to amend the Internal Revenue Code of 1954 to provide for the exclusion from taxation of interest earned on deposits which are used for residential mortgage lending purposes.. 97th Congress. Open America. https://openamerica.io/bill/97-HR-1005/
MLA
"H.R. 1005: A bill to amend the Internal Revenue Code of 1954 to provide for the exclusion from taxation of interest earned on deposits which are used for residential mortgage lending purposes.." 97th Congress, 2026, Open America, https://openamerica.io/bill/97-HR-1005/.
Bluebook (legal)
H.R. 1005, 97th Cong. (2026), https://openamerica.io/bill/97-HR-1005/.
Markdown link
[H.R. 1005: A bill to amend the Internal Revenue Code of 1954 to provide for the exclusion from taxation of interest earned on deposits which are used for residential mortgage lending purposes.](https://openamerica.io/bill/97-HR-1005/)
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