# 115-hr-4424: To amend the Internal Revenue Code of 1986 to provide an exclusion from gross income for interest on certain small business loans.

115-hr-4424, To amend the Internal Revenue Code of 1986 to provide an exclusion from gross income for interest on certain small business loans., is a 115th Congress bill sponsored by Rep. Blum, Rod [R-IA-1] (R-IA); status Referred to the House Committee on Ways and Means. (as of 2025-11-18).

- Canonical: https://policyrisk.com/legislation/115-hr-4424
- As of: 2025-11-18
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 115-hr-4424
- Congress: 115
- Title: To amend the Internal Revenue Code of 1986 to provide an exclusion from gross income for interest on certain small business loans.
- Status: Referred to the House Committee on Ways and Means.
- Introduced: 2017-11-16
- Sponsor: Rep. Blum, Rod [R-IA-1] (R-IA)
- Cosponsors: 10
- Policy area: Taxation
- Touches household money: no
- Last recorded action: 2025-11-18

## Summary

This bill amends the Internal Revenue Code to exclude from the gross income of certain banks interest received on small business loans of up to $5 million. The bill applies to loans that are: (1) secured by land situated in the United States that is used or held by the small business in connection with the active conduct of a farming business, or (2) incurred in the ordinary course of the trade or business of the small business. To be eligible for the exclusion, the bank must: (1) have less than $50 billion in assets at the closing of the preceding taxable year, and (2) receive the interest before 2019.

## Cosponsors (10)

- Rep. Chabot, Steve [R-OH-1] (R-OH), 2017-11-16T00:00:00.000Z
- Rep. Crist, Charlie [D-FL-13] (D-FL), 2017-11-16T00:00:00.000Z
- Rep. Pearce, Stevan [R-NM-2] (R-NM), 2017-12-11T00:00:00.000Z
- Rep. King, Steve [R-IA-4] (R-IA), 2018-01-11T00:00:00.000Z
- Rep. Costa, Jim [D-CA-21] (D-CA), 2017-11-28T00:00:00.000Z
- Rep. Grothman, Glenn [R-WI-6] (R-WI), 2018-01-09T00:00:00.000Z
- Rep. Schneider, Bradley Scott [D-IL-10] (D-IL), 2018-01-29T00:00:00.000Z
- Rep. Murphy, Stephanie N. [D-FL-7] (D-FL), 2018-02-06T00:00:00.000Z
- Rep. Walz, Timothy J. [D-MN-1] (D-MN), 2018-02-14T00:00:00.000Z
- Rep. Walberg, Tim [R-MI-5] (R-MI), 2018-06-05T00:00:00.000Z

## Related bills

- 115-hr-2519: The American Legion 100th Anniversary Commemorative Coin Act
- 115-hr-1698: Iran Ballistic Missiles and International Sanctions Enforcement Act
- 115-hr-5141: United States-Israel Security Assistance Authorization Act of 2018
- 115-hr-5132: Iranian Revolutionary Guard Corps Economic Exclusion Act
- 115-hr-1697: Israel Anti-Boycott Act
- 115-hr-2740: Rabbi Michoel Ber Weissmandl Congressional Gold Medal Act of 2017 (sic)

## Sources
- [115-hr-4424 on Congress.gov](https://www.congress.gov/bill/115th-congress/house-bill/4424)

## Related
- [115-hr-2519: The American Legion 100th Anniversary Commemorative Coin Act](https://policyrisk.com/legislation/115-hr-2519)
- [115-hr-1698: Iran Ballistic Missiles and International Sanctions Enforcement Act](https://policyrisk.com/legislation/115-hr-1698)
- [115-hr-5141: United States-Israel Security Assistance Authorization Act of 2018](https://policyrisk.com/legislation/115-hr-5141)
- [115-hr-5132: Iranian Revolutionary Guard Corps Economic Exclusion Act](https://policyrisk.com/legislation/115-hr-5132)
- [115-hr-1697: Israel Anti-Boycott Act](https://policyrisk.com/legislation/115-hr-1697)
- [115-hr-2740: Rabbi Michoel Ber Weissmandl Congressional Gold Medal Act of 2017 (sic)](https://policyrisk.com/legislation/115-hr-2740)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/115-hr-4424 (as of 2025-11-18).