Search Results for keywords:"qualified lender"

Search Results: keywords:"qualified lender"

H. R. 1822 — To amend the Internal Revenue Code of 1986 to exclude from gross income interest received on certain loans secured by rural or agricultural real property.
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March 04, 2025
Status:Introduced in House
Congress:119
Words:1,485
H. R. 1822, also known as the "Access to Credit for our Rural Economy Act of 2025" or the "ACRE Act of 2025," proposes changes to the Internal Revenue Code of 1986. This bill seeks to allow banks, insurance companies, and certain government-related entities to exclude from...
Simple Explanation
H. R. 1822 is a plan that lets banks and other money-related companies avoid paying taxes on the money they earn from loans for farms and rural homes, hoping this will make it easier for people in the countryside to get loans.
S. 838 — To amend the Internal Revenue Code of 1986 to exclude from gross income interest received on certain loans secured by rural or agricultural real property.
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March 04, 2025
Status:Introduced in Senate
Congress:119
Words:1,492
The bill, titled the Access to Credit for our Rural Economy Act of 2025 (ACRE Act of 2025), proposes an amendment to the Internal Revenue Code of 1986 to exclude from taxable income the interest earned by certain lenders on loans secured by rural or agricultural real estate....
Simple Explanation
The Access to Credit for our Rural Economy Act of 2025 wants to make it so that banks and other lenders don't have to pay taxes on the interest they earn from loans on farms or rural land. This way, they might give better loans to farmers and people in the countryside, but there are some concerns that it might mostly help bigger banks.

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