H.R. 6260 · 114th Congress
ECORA Act of 2016
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Never voted on. It didn't reach a floor vote before the 114th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
JenkinsSponsorNo cosponsors.
Enhancing Credit Opportunities in Rural America Act of 2016 or the ECORA Act of 2016
What it does: CRS summary · Introduced in House · Sep 28, 2016
Enhancing Credit Opportunities in Rural America Act of 2016 or the ECORA Act of 2016
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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: ECORA Act of 2016
Also known as: Enhancing Credit Opportunities in Rural America Act of 2016
Latest action (Sep 28, 2016): Referred to the House Committee on Ways and Means.
Policy area: Taxation · Origin: House · Introduced: Sep 28, 2016
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.