S 1602
98th Congress
Senate
Taxation
Corporations and Stocks
Dividends
Finance and Financial Sector
Income tax
Interest
Stocks
Tax exclusion
A bill to amend the Internal Revenue Code of 1954 to provide a partial exclusion for dividends and interest beginning in 1983.
Introduced: July 12, 1983
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 12, 1983
Read twice and referred to the Committee on Finance.
Jul 12, 1983
Introduced in Senate
Plain-English summary
Amends the Internal Revenue Code to provide for a partial exclusion from gross income of interest and dividends, beginning in 1983. Limits the amount of such exclusion to 15 percent of the lesser of (1) $3,000 ($6,000 for joint returns) or (2) the excess of interest and dividend amounts received by a taxpayer during a taxable year over certain interest and penalty expenses.
What's happening now
Read twice and referred to the Committee on Finance.
Committees of jurisdiction
1
Cosponsors
1