United States · Bill · S
S. 1226 (116th)
Access Business Credit Act of 2019
Introduced
29 April 2019
Last action
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Status
Read twice and referred to the Committee on Finance.
Sponsors
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Subjects
Discovery layer
Source updated
3 January 2025
Summary
Access Business Credit Act of 201 9 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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Documents
3 official files
Introduced in Senate (text)
Introduced in Senate (text)
Introduced in Senate · EN · 29 April 2019
Introduced in Senate (PDF)
Introduced in Senate · EN · 29 April 2019
Introduced in Senate
summary · EN · 29 April 2019
Sponsors
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Sources
PoliticalRepo is an index and interpretation layer, not the authoritative legal source.
- Official source: https://www.congress.gov/bill/116th-congress/senate-bill/1226
- Open data entity: https://api.congress.gov/v3/bill/116/s/1226