On page 31. after section 121. it Is proposed to insert the following: SEC. 122. Interest on certain governmental obligations of the Federal Republic of Western Germany. (a) General rule: Gross income does not include interest on obligations issued by the Lastenausgleichsbank of the Federal Republic of Western Germany. (b) Limitation: Subsection (a) shall apply only to obligations issued for the purpose of making funds available to finance the acquisition or improvement of real property which is to be used for family dwellings (consisting of not more than two family units) with individual ownership of each of such family dwellings by individuals who are (1) refugees. (2) escapees. or (3) residents of the Federal Republic of Wbstern Germany who lost their homes through war action in World War II.
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refugees