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 2007 - 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).
Introduced in Senate
Read twice and referred to the Committee on Finance.
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