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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