3.0.0 1641 2022-11-01T06:02:37Z 2022-11-01T06:02:37Z Senate S 2019-05-23 116 ssfi00 Finance Committee Senate Standing Referred to 2019-05-23T16:49:01Z Enhancing Credit Opportunities in Rural America Act of 2019 116 1872 HR 2019-03-26 Referred to the House Committee on Ways and Means. Identical bill CRS 2019-05-23 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2019-05-23 Introduced in Senate IntroReferral 10000 9 Library of Congress R000307 Sen. Roberts, Pat [R-KS] PAT ROBERTS R KS N M000934 Sen. Moran, Jerry [R-KS] Jerry Moran R KS 2019-05-23 True H001061 Sen. Hoeven, John [R-ND] John Hoeven R ND 2019-05-23 True C001096 Sen. Cramer, Kevin [R-ND] Kevin Cramer R ND 2019-05-23 True P000603 Sen. Paul, Rand [R-KY] Rand Paul R KY 2019-06-12 False R000605 Sen. Rounds, Mike [R-SD] Mike Rounds R SD 2019-07-18 False Taxation Agricultural prices, subsidies, credit Credit and credit markets Farmland Housing finance and home ownership Income tax exclusion Interest, dividends, interest rates Rural conditions and development Taxation 00 2019-05-23 Introduced in Senate 2019-07-23T22:59:45Z Enhancing Credit Opportunities in Rural America Act of 2019 or the ECORA Act of 2019

This bill modifies the requirements for calculating taxable income to exclude from gross income interest received by a lender from real estate loans secured by agricultural real estate or by a leasehold mortgage (with a status as a lien) on agricultural real estate.

Agricultural real estate includes real property that is substantially used for the production of one or more agricultural products. It also includes any single family residence that is (1) the principal residence of its occupant, (2) located in a rural area which is not within a Metropolitan Statistical Area and has a population of 2,500 or less; and (3) is purchased or improved with the proceeds of a loan secured by property used for the production of one or more agricultural products.

]]> ECORA Act of 2019 Display Title ECORA Act of 2019 Short Title(s) as Introduced ECORA Act of 2019 Introduced in Senate IS Short Title(s) as Introduced Enhancing Credit Opportunities in Rural America Act of 2019 Introduced in Senate IS Official Title as Introduced A bill to amend the Internal Revenue Code of 1986 to exclude from gross income interest received on certain loans secured by agricultural real property. Introduced in Senate IS Introduced in Senate 2019-05-23T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116s1641is/xml/BILLS-116s1641is.xml 2019-05-23 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.