S 2371 · 118th Congress

ACRE Act of 2023

The ACRE Act of 2023 is a tax break for banks and financial institutions that lend money to farmers and rural property owners. Here's what it does: normally, when banks earn interest on loans, that interest counts as income and gets taxed. This bill says that if a bank makes a loan secured by farmland or other rural…

Sponsor

Moran, Jerry (R-KS)

Introduced

2023-07-19

Policy area

Taxation

Latest action

Read twice and referred to the Committee on Finance.