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114-hr-6260114th Congress

ECORA Act of 2016

Sponsored By: Representative Jenkins, Lynn [R-KS-2]

Unknown

Summary

Enhancing Credit Opportunities in Rural America Act of 2016 or the ECORA Act of 2016 This bill amends the Internal Revenue Code 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.

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Bill Overview

No Economic Impacts Identified for this Bill

Sponsors & CoSponsors

Sponsor

Jenkins, Lynn [R-KS-2]

KS • R

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

No roll call votes available for this bill.

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