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Tax Relief for Rural and Agricultural Property Loans

This act aims to improve access to credit for rural residents and farmers. By excluding interest received on certain rural and agricultural real estate loans from gross income, the cost of borrowing may decrease, potentially leading to lower loan payments for individuals purchasing or improving rural homes, as well as for farmers and fishing businesses.
Key points
Banks and other financial institutions will not pay tax on interest from loans secured by rural, agricultural, or forestland real estate, and aquaculture facilities.
The exclusion also applies to loans for purchasing or improving single-family residences in rural areas, up to $750,000.
The goal is to reduce borrowing costs for rural residents and farmers, potentially facilitating investments and improving living conditions.
The act does not cover loans to entities from foreign adversary countries like China, Russia, or Iran.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_1822
Sponsor: Rep. Feenstra, Randy [R-IA-4]
Process start date: 2025-03-04
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash
Source data: api.congress.gov
AI work logs for this document launch

OFFICIAL LEGAL TITLE

ACRE Act of 2025

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_1822.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2025-03-04.

What are the main provisions?

Key points include:

  • Banks and other financial institutions will not pay tax on interest from loans secured by rural, agricultural, or forestland real estate, and aquaculture facilities.
  • The exclusion also applies to loans for purchasing or improving single-family residences in rural areas, up to $750,000.
  • The goal is to reduce borrowing costs for rural residents and farmers, potentially facilitating investments and improving living conditions.
  • The act does not cover loans to entities from foreign adversary countries like China, Russia, or Iran.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Feenstra, Randy [R-IA-4].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-22.

CATEGORIES

Taxes Agriculture Real Estate