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Bills
Senate Bill 2202
117th Congress(2021-2022)
ECORA Act of 2021
Introduced
Introduced
Introduced in Senate on Jun 23, 2021
Overview
Text
Introduced
Jun 23, 2021
Latest Action
Jun 23, 2021
Origin Chamber
Senate
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
2202
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
Republican
Jerry Moran
Kansas
Republican
Tommy Tuberville
Alabama
Republican
John Boozman
Arkansas
Republican
Tom Cotton
Arkansas
Republican
Joni Ernst
Iowa
Republican
Roger Marshall
Kansas
Republican
Bill Cassidy
Louisiana
Republican
Kevin Cramer
North Dakota
Republican
Jim Inhofe
Oklahoma
Republican
Tim Scott
South Carolina
Republican
Mike Rounds
South Dakota
Republican
Cynthia Lummis
Wyoming
Senate Votes (0)
House Votes (0)
No Senate 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)
Introduced in Senate
June 23, 2021
Related Bills (1)
Mar 17, 2021
Introduced in House
43
Sponsorship
House Bill 1977
ECORA Act of 2021
Introduced
Type
Identical Bill
Identical Bill
A bill that is word-for-word identical to another bill. Bills are characterized as identical to each other at the introduced stage only, even though a later (e.g., reported or passed) version of a bill might meet the same criteria for text similarity. Companion measures, procedurally-related measures, and legislation with text similarities are other related bill types.
Identified By
CRS
Actions (2)
06/23/2021
Read twice and referred to the Committee on Finance.
06/23/2021
Introduced in Senate
Public Record
Record Updated
Dec 31, 2022 5:26:29 AM
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