A bill to amend the Internal Revenue code of 1986 to exclude from gross income interest received on loans secured by agricultural real property.
Rural Economic Investment Act of 2005 - Amends the Internal Revenue Code to exclude from gross income interest received by a bank or savings association that is insured under the Federal Deposit Insurance Act on a loan secured by agricultural real estate or by a leasehold mortgage on agricultural real estate (real property used for agricultural production or certain single family rural residences).
Referred to the House Committee on Ways and Means.
Referred to the House Committee on Ways and Means.
Introduced in Senate
Read twice and referred to the Committee on Finance.
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