3.0.0 4424 2023-01-11T13:37:59Z 2023-01-11T13:37:59Z House HR 2017-11-16 115 [Congressional Record Volume 163, Number 188 (Thursday, November 16, 2017)]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. BLUM:H.R. 4424.Congress has the power to enact this legislation pursuantto the following:Article 1, Section 8[Page H9426]]]> hswm00 Ways and Means Committee House Standing Referred to 2017-11-16T14:03:45Z Access Business Credit Act of 2018 115 2378 S 2018-02-06 Read twice and referred to the Committee on Finance. Related bill CRS 2017-11-16 Referred to the House Committee on Ways and Means. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2017-11-16 Introduced in House IntroReferral Intro-H 9 Library of Congress 2017-11-16 Introduced in House IntroReferral 1000 9 Library of Congress B001294 Rep. Blum, Rod [R-IA-1] Rod Blum R IA 1 N C000266 Rep. Chabot, Steve [R-OH-1] STEVE CHABOT R OH 1 2017-11-16 True C001111 Rep. Crist, Charlie [D-FL-13] Charlie Crist D FL 13 2017-11-16 True C001059 Rep. Costa, Jim [D-CA-16] Jim Costa D CA 16 2017-11-28 False P000588 Rep. Pearce, Stevan [R-NM-2] Stevan Pearce R NM 2 2017-12-11 False G000576 Rep. Grothman, Glenn [R-WI-6] Glenn Grothman R WI 6 2018-01-09 False K000362 Rep. King, Steve [R-IA-4] Steve King R IA 4 2018-01-11 False S001190 Rep. Schneider, Bradley Scott [D-IL-10] Bradley Schneider D IL Scott 10 2018-01-29 False M001202 Rep. Murphy, Stephanie N. [D-FL-7] Stephanie Murphy D FL N. 7 2018-02-06 False W000799 Rep. Walz, Timothy J. [D-MN-1] Timothy Walz D MN J. 1 2018-02-14 False W000798 Rep. Walberg, Tim [R-MI-7] Tim Walberg R MI 7 2018-06-05 False Taxation Agricultural prices, subsidies, credit Business investment and capital Income tax exclusion Interest, dividends, interest rates Small business Taxation 00 2017-11-16 Introduced in House 2018-04-27T21:01:37Z This bill amends the Internal Revenue Code to exclude from the gross income of certain banks interest received on small business loans of up to $5 million.

The bill applies to loans that are: (1) secured by land situated in the United States that is used or held by the small business in connection with the active conduct of a farming business, or (2) incurred in the ordinary course of the trade or business of the small business.

To be eligible for the exclusion, the bank must: (1) have less than $50 billion in assets at the closing of the preceding taxable year, and (2) receive the interest before 2019.

]]> To amend the Internal Revenue Code of 1986 to provide an exclusion from gross income for interest on certain small business loans. Display Title To amend the Internal Revenue Code of 1986 to provide an exclusion from gross income for interest on certain small business loans. Official Title as Introduced To amend the Internal Revenue Code of 1986 to provide an exclusion from gross income for interest on certain small business loans. Introduced in House 2017-11-16T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115hr4424ih/xml/BILLS-115hr4424ih.xml 2017-11-16 Referred to the House Committee on Ways and Means. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.