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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
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This bill died when the 98th Congress ended
It never became law before the 98th Congress (1983–1984) 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
Jul 12, 1983
Read twice and referred to the Committee on Finance.
Jul 12, 1983
Introduced in Senate
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 Plain-English summary Congressional Research Service

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 July 12, 1983

Read twice and referred to the Committee on Finance.

 Committees of jurisdiction 1
 Cosponsors 1
All 1 Republican 1
R
Grassley, Chuck
Iowa · Aug 2, 1983
Cite this page click to expand
APA
U.S. Congress. (2026). S. 1602: A bill to amend the Internal Revenue Code of 1954 to provide a partial exclusion for dividends and interest beginning in 1983.. 98th Congress. Open America. https://openamerica.io/bill/98-S-1602/
MLA
"S. 1602: A bill to amend the Internal Revenue Code of 1954 to provide a partial exclusion for dividends and interest beginning in 1983.." 98th Congress, 2026, Open America, https://openamerica.io/bill/98-S-1602/.
Bluebook (legal)
S. 1602, 98th Cong. (2026), https://openamerica.io/bill/98-S-1602/.
Markdown link
[S. 1602: A bill to amend the Internal Revenue Code of 1954 to provide a partial exclusion for dividends and interest beginning in 1983.](https://openamerica.io/bill/98-S-1602/)
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