118th Congress · SENATE BILLBILL

S. 2371 — ACRE Act of 2023

“A bill to amend the Internal Revenue Code of 1986 to exclude from gross income interest received on certain loans secured by rural or agricultural real property.”

Taxation

Introduced Jul 19, 2023

Last action Jul 19, 2023

Pipeline · Bill → Law

Step 1

Introduced

Jul 19, 2023

Step 2

Referred

Jul 19, 2023

Finance

Step 3

Committee

Step 4

Senate

Step 5

House floor

Step 6

Resolve Changes

Step 7

Signed

SummaryCRS Summary

This bill excludes from the gross income of certain financial lending institutions, for income tax purposes, interest received on loans secured by rural or agricultural real estate.

Provisions · 2 sectionsIntroduced in Senate

Timeline · 2 actions

Jul 19, 2023

Introduced in Senate

Jul 19, 2023

Read twice and referred to the Committee on Finance.