Bill Sponsor
House Bill 1977
117th Congress(2021-2022)
ECORA Act of 2021
Introduced
Introduced
Introduced in House on Mar 17, 2021
Overview
Text
Sponsor
Introduced
Mar 17, 2021
Latest Action
Mar 17, 2021
Origin Chamber
House
Type
Bill
Bill
The primary form of legislative measure used to propose law. Depending on the chamber of origin, bills begin with a designation of either H.R. or S. Joint resolution is another form of legislative measure used to propose law.
Bill Number
1977
Congress
117
Policy Area
Taxation
Taxation
Primary focus of measure is all aspects of income, excise, property, inheritance, and employment taxes; tax administration and collection. Measures concerning state and local finance may fall under Economics and Public Finance policy area.
Sponsorship by Party
House Votes (0)
Senate Votes (0)
No House votes have been held for this bill.
Summary

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.

Text (1)
March 17, 2021
Actions (2)
03/17/2021
Referred to the House Committee on Ways and Means.
03/17/2021
Introduced in House
Public Record
Record Updated
Jan 11, 2023 1:48:11 PM