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ECORA Introduced in U.S. Senate

The Enhancing Credit Opportunities in Rural America Act (ECORA) of 2021 (S. 2202) was introduced in the U.S. Senate this week. Original bill Sponsors include Sens. Jerry Moran (R-Kan.), John Boozman (R-Ark.), Kevin Cramer (R-N.D.), Roger Marshall (R-Kan.) and Mike Rounds (R-S.D.). This legislation — supported by the Iowa Bankers Association — exempts income from agricultural real estate loans and residential real estate loans in small communities from taxation, enabling banks to offer more attractive rates to their customers. It was introduced in the House by Reps. Randy Feenstra (R-Iowa) and Ron Kind (D-Wis.). Please thank Rep. Feenstra and urge Senators Grassley and Ernst and Reps. Ashley Hinson, Mariannette Miller-Meeks and Cindy Axne to support ECORA through the IBA’s Legislative Action Center.

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