ABC Act of 2019

Summary

Access Business Credit Act of 2019 or the ABC Act of 2019 This bill modifies the requirements for calculating taxable income 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 have less than $50 billion in assets at the closing of the preceding taxable year.

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Timeline

1. 23 October 2019

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

2. 23 October 2019

   Introduced

   Introduced in House

   Source: IntroReferral

3. 23 October 2019

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 23 October 2019 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 23 October 2019

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 23 October 2019

  ViewDownloadOpen at official source

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  Vertaal document

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• Introduced in House

  summary · EN · 23 October 2019

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Kim, Andy [D-NJ] · D · Sponsor
• Rep. Burchett, Tim [R-TN-2] · R · Sponsor
• Rep. Horn, Kendra S. [D-OK-5] · D · Sponsor
• Rep. Torres Small, Xochitl [D-NM-2] · D · Cosponsor
• · hswm00 · Standing

Related records

• related to → Access Business Credit Act of 2019
• related to → ABC Act of 2022