HR 3050
99th Congress
House
Taxation
Finance and Financial Sector
Income tax
Interest
Savings accounts
Tax exclusion
American Passbook Savings Act of 1985
Introduced: July 18, 1985
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 18, 1985
Referred to House Committee on Ways and Means.
Jul 18, 1985
Introduced in House
Plain-English summary
American Passbook Savings Act of 1985 - Amends the Internal Revenue Code to exclude from gross income up to $5,000 ($10,000 in the case of a joint return) of interest earned on a savings account maintained in a bank, savings and loan, or similar institution.
What's happening now
Referred to House Committee on Ways and Means.
Committees of jurisdiction
1
Cosponsors
1