S. 1641 · 116th Congress
ECORA Act of 2019
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Never voted on. It didn't reach a floor vote before the 116th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
RobertsSponsor5 cosponsors · 5 R
3 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Enhancing Credit Opportunities in Rural America Act of 2019 or the ECORA Act of 201 9
What it does: CRS summary · Introduced in Senate · May 23, 2019
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.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: ECORA Act of 2019
Also known as: Enhancing Credit Opportunities in Rural America Act of 2019
Latest action (May 23, 2019): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: May 23, 2019
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.