S. 2202 · 117th Congress
ECORA Act of 2021
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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.
R
MoranSponsor11 cosponsors · 11 R
R
Boozman
KC
R
Cramer
RM
R
Marshall
MR
R
Rounds
CL
R
Lummis
TC
R
Cotton
JE
R
Ernst
TT
R
Tuberville
TS
R
Scott
JI
R
Inhofe
BC
R
Cassidy4 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.
Enhancing Credit Opportunities in Rural America Act of 2021 or the ECORA Act of 2021
What it does: CRS summary · Introduced in Senate · Jun 23, 2021
Enhancing Credit Opportunities in Rural America Act of 2021 or the ECORA Act of 2021
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 agricultural real estate or by a household mortgage.
Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov
About this bill and sources
Official title: ECORA Act of 2021
Also known as: Enhancing Credit Opportunities in Rural America Act of 2021
Latest action (Jun 23, 2021): Read twice and referred to the Committee on Finance.
Policy area: Taxation · Origin: Senate · Introduced: Jun 23, 2021
Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)
No recorded floor vote found.