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 ...
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The bill’s title was written by its sponsor.
Mar 7, 1996
This is the first step in the legislative process.
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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)
- 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
Click a format for a citation suggestion:
Civic Impulse. (2015). H.R. 3042 — 104th Congress: Tax-Free Savings and Investment Income Act. Retrieved from https://www.govtrack.us/congress/bills/104/hr3042
“H.R. 3042 — 104th Congress: Tax-Free Savings and Investment Income Act.” www.GovTrack.us. 1996. November 30, 2015 <https://www.govtrack.us/congress/bills/104/hr3042>
|title=H.R. 3042 (104th)
|accessdate=November 30, 2015
|author=104th Congress (1996)
|date=March 7, 1996
|quote=Tax-Free Savings and Investment Income Act