ICBA sent a comment letter to the IRS on its interim guidance addressing the exclusion of interest on loans secured by rural or agricultural real property under Section 139L of the Internal Revenue Code, which was added to the Code by the One Big Beautiful Bill Act signed into law in July 2025. ICBA said it is pleased that the guidance contains positive features that are consistent with ICBA’s recommendations to Treasury and the IRS in advance of its publication, but suggested changes that would give Section 139L greater reach and qualify more loans for the benefit of American farmers and ranchers.