H.R. 3042 (104th): Tax-Free Savings and Investment Income Act


Mar 7, 1996
104th Congress, 1995–1996

Died in a previous Congress

This bill was introduced on March 7, 1996, in a previous session of Congress, but was not enacted.


Cleo Fields

Representative for Louisiana's 4th congressional district



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Last Updated: Mar 7, 1996
Length: 3 pages

About the bill

Full Title

To amend the Internal Revenue Code of 1986 to allow individuals an exclusion from gross income for certain amounts of unearned income.

Summary (CRS)

3/7/1996--Introduced.Tax-Free Savings and Investment Income Act - Amends the Internal Revenue Code to exclude from gross income up to $5,000 ($10,000 in the case of a joint return) of unearned ... Read more >

The bill’s title was written by its sponsor.


Mar 7, 1996

This is the first step in the legislative process.

This is a House of Representatives bill in the United States Congress (indicated by the “H.R.” in “H.R. 3042”). A bill must be passed by both the House and Senate in identical form and then be signed by the President to become law.


2 cosponsors (1R, 1D) (show)
Committee Assignments

The committee chair determines whether a bill will move past the committee stage.


There have been no roll call votes related to this bill.

Links & tools

Primary Source

THOMAS.gov (The Library of Congress)

GovTrack gets most information from THOMAS, which is updated generally one day after events occur. Activity since the last update may not be reflected here. Data comes via the congress project.


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