110-H.R.833

To amend the Internal Revenue Code of 1986 to exclude from gross income interest received on loans secured by agricultural real estate and rural housing.

2/6/2007--Introduced.

Rural Communities Investment Act of 2007 - Amends the Internal Revenue Code to exclude from gross income interest received by a bank or savings association insured under the Federal Deposit Insurance Act on a loan acquired to purchase or improve rural housing and secured by rural housing or by a leasehold mortgage on such housing. Defines "rural housing" as any single family principal residence located in a rural area.

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