[Congressional Bills 103th Congress]
[From the U.S. Government Publishing Office]
[H.R. 4421 Introduced in House (IH)]

103d CONGRESS
  2d Session
                                H. R. 4421

 To amend the Internal Revenue Code of 1986 to provide that tax-exempt 
 interest shall not be taken into account in determining the amount of 
           social security benefits included in gross income.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 12, 1994

 Mr. Solomon (for himself, Mr. Stump, Mr. Bunning, Mr. Levy, Mr. Kyl, 
   and Mr. Sensenbrenner), introduced the following bill; which was 
              referred to the Committee on Ways and Means

_______________________________________________________________________

                                 A BILL


 
 To amend the Internal Revenue Code of 1986 to provide that tax-exempt 
 interest shall not be taken into account in determining the amount of 
           social security benefits included in gross income.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. TAX-EXEMPT INTEREST NOT TAKEN INTO ACCOUNT IN DETERMINING 
              TAXATION OF SOCIAL SECURITY BENEFITS.

    (a) In General.--Paragraph (2) of section 86(b) of the Internal 
Revenue Code of 1986 (relating to social security and tier 1 railroad 
retirement benefits) is amended by striking ``gross income--'' and all 
that follows and inserting ``gross income determined without regard to 
this section and sections 135, 911, 931, and 933.''.
    (b) Effective Date.--The amendment made by subsection (a) shall 
apply to taxable years beginning after the date of the enactment of 
this Act.

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