H.R. 971 · 108th Congress
Small Savers Relief Act of 2003
- Stage
- In committee
- Sponsor
- Spencer Bachus
- Introduced
- 2003-02-27
- Latest action
- 2003-02-27 · Introduced in House
Summary
Small Savers Relief Act of 2003 - Amends the Internal Revenue Code to exclude up to $100 ($200 for joint filers) of interest earned by individuals from gross income.Provides special rules for: (1) distributions from trusts, regulated investment companies, and real estate investment trusts; and (2) nonresident alien eligibility for such exclusion.Increases the threshold for reporting interest paid from $10 to $100.