A bill to amend the Internal Revenue Code of 1954 to revise the provisions relating to property exempt from seizure for collection of taxes.

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Status In Committee
Sponsor Joseph Montoya
Citation 94-S-138
Actions 2
Introduced Jan 15th, 1975
Cosponsors
4
Last Action Jan 15th, 1975
Policy Area
✓
Introduced Senate Jan 15
Senate
House
President
Enacted

Summary

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Revises the provisions of the Internal Revenue Code of 1954 relating to property exempt from seizure for collection of taxes to provide an exemption from levy for a specific amount of income based on the number of the taxpayer's dependents. Provides for an annual cost of living increase in such exemption.

Actions

2
Senate
INTRODUCED
INTRODUCED
Jan 15, 1975
ON FLOOR
REFERRED TO COMMITTEE
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