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

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Plain-English summary Congressional Research Service

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 July 18, 1985

Referred to House Committee on Ways and Means.

Committees of jurisdiction 1

Ways and Means Committee
House of Representatives

Cosponsors 1

Wyden, Ron

Oregon · Jul 18, 1985

Cite this page click to expand

APA

U.S. Congress. (2026). H.R. 3050: American Passbook Savings Act of 1985. 99th Congress. Open America. https://openamerica.io/bill/99-HR-3050/

MLA

"H.R. 3050: American Passbook Savings Act of 1985." 99th Congress, 2026, Open America, https://openamerica.io/bill/99-HR-3050/.

Bluebook (legal)

H.R. 3050, 99th Cong. (2026), https://openamerica.io/bill/99-HR-3050/.

Markdown link

[H.R. 3050: American Passbook Savings Act of 1985](https://openamerica.io/bill/99-HR-3050/)