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S 1949 97th Congress Senate Taxation Income tax Interest rates Tax administration

A bill to amend the Internal Revenue Code of 1954 to provide that any adjustment in interest rates be made on an average annual basis rather than on an average monthly basis.

Introduced: December 11, 1981 Introduced by: Grassley, Chuck Republican · Iowa 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 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Dec 15, 1981
Committee on Finance requested executive comment from OMB; Treasury Department.
Dec 11, 1981
Read second time and referred to Senate Committee on Finance.
Dec 11, 1981
Introduced in Senate
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 Plain-English summary Congressional Research Service

Amends the Internal Revenue Code to provide that any adjustment in interest rates on underpayments and overpayments of tax be made on an average annual basis rather than on an average monthly basis.

What's happening now December 15, 1981

Committee on Finance requested executive comment from OMB; Treasury Department.

 Committees of jurisdiction 1
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APA
U.S. Congress. (2026). S. 1949: A bill to amend the Internal Revenue Code of 1954 to provide that any adjustment in interest rates be made on an average annual basis rather than on an average monthly basis.. 97th Congress. Open America. https://openamerica.io/bill/97-S-1949/
MLA
"S. 1949: A bill to amend the Internal Revenue Code of 1954 to provide that any adjustment in interest rates be made on an average annual basis rather than on an average monthly basis.." 97th Congress, 2026, Open America, https://openamerica.io/bill/97-S-1949/.
Bluebook (legal)
S. 1949, 97th Cong. (2026), https://openamerica.io/bill/97-S-1949/.
Markdown link
[S. 1949: A bill to amend the Internal Revenue Code of 1954 to provide that any adjustment in interest rates be made on an average annual basis rather than on an average monthly basis.](https://openamerica.io/bill/97-S-1949/)
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