Access Business Credit Act of 2018

Summary

Access Business Credit Act of 2018 This bill amends the Internal Revenue Code 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. 6 February 2018

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 6 February 2018

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 6 February 2018 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 6 February 2018

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 6 February 2018

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 6 February 2018

  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. Rounds, Mike [R-SD] · R · Sponsor
• Sen. Duckworth, Tammy [D-IL] · D · Cosponsor
• · ssfi00 · Standing

Related records

• related to → Access Business Credit Act of 2019
• related to → To amend the Internal Revenue Code of 1986 to provide an exclusion from gross income for interest on certain small business loans.