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HR 2205 115th Congress House 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

ECORA Act of 2017

Introduced: April 27, 2017 See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 27, 2017
Referred to the House Committee on Ways and Means.
Apr 27, 2017
Introduced in House
 Plain-English summary Congressional Research Service

Enhancing Credit Opportunities in Rural America Act of 2017 or the ECORA Act of 2017

This bill amends the Internal Revenue Code 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.

What's happening now April 27, 2017

Referred to the House Committee on Ways and Means.

 Committees of jurisdiction 1
 Cosponsors 3
All 3 Republican 3