3.0.0 2378 2023-01-11T13:40:27Z 2023-01-11T13:40:27Z Senate S 2018-02-06 115 ssfi00 Finance Committee Senate Standing Referred to 2018-02-06T17:10:01Z To amend the Internal Revenue Code of 1986 to provide an exclusion from gross income for interest on certain small business loans. 115 4424 HR 2017-11-16 Referred to the House Committee on Ways and Means. Related bill CRS 2018-02-06 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2018-02-06 Introduced in Senate IntroReferral 10000 9 Library of Congress R000605 Sen. Rounds, Mike [R-SD] Mike Rounds R SD N D000622 Sen. Duckworth, Tammy [D-IL] Tammy Duckworth D IL 2018-03-07 False Taxation Agricultural prices, subsidies, credit Business investment and capital Income tax exclusion Interest, dividends, interest rates Small business Taxation 00 2018-02-06 Introduced in Senate 2018-04-30T17:33:30Z Access Business Credit Act of 2018

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 have less than $50 billion in assets at the closing of the preceding taxable year.

]]> Access Business Credit Act of 2018 Display Title Access Business Credit Act of 2018 Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to provide an exclusion from gross income for interest on certain small business loans. Introduced in Senate IS Short Titles as Introduced Access Business Credit Act of 2018 Introduced in Senate 2018-02-06T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-115s2378is/xml/BILLS-115s2378is.xml 2018-02-06 Read twice and referred to the Committee on Finance. 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.