ICBA Backs Bills Offering Tax Relief for Rural Lending

Jun 20, 2019

ICBA expressed support for House and Senate legislation to provide tax relief for agricultural and rural residential lending.

Under the Enhancing Credit Opportunities in Rural America Act (H.R. 1872/S. 1641), introduced by Rep. Steve Watkins (R-Kan.) and Sen. Pat Roberts (R-Kan.), interest earned on loans secured by agricultural real estate would not be taxable. The bill would provide similar relief to interest on loans secured by rural single-family homes that are the principal residence of the borrower in towns with a population of less than 2,500.

The legislation would implement a recommendation in ICBA’s Community Focus 2020 policy platform.

Read ICBA Letters of Support
View Community Focus 2020