Summary: H.R.3050 — 99th Congress (1985-1986)All Information (Except Text)

There is one summary for H.R.3050. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (07/18/1985)

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.