,,ii  #aafth ,,congress  #ast ,session  
,s4 #abbf  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,april #bi1    
#bjai,mr4 ,rounds 7for himself and ,ms4 
,duckworth7 introduced the following    
bill2 which was read twice and referred 
to the ,committee on ,finance  ,a ,,bill
  ,to amend the ,internal ,revenue ,code
 of #aihf to provide an exclusion from  
gross income for interest on certain    
small business loans4  #a4 ,short title 
,this ,act may be cited as the ,access  
,business ,credit ,act of #bjai4  #b4   
,exclusion of interest on certain small 
business loans  7a7 ,in general ,part   
,,iii of subchapter ,b of chapter #a of 
the ,internal ,revenue ,code of #aihf is
 amended by inserting after section     
#aci;,g the following new section3      
#aci;,h4 ,interest on certain small     
business loans  7a7 ,in general ,in the 
case of a bank described in subsection  
7c71 gross income shall not include     
qualified interest received from a small
 business during the taxable year4  7b7 

,qualified interest ,the term qualified 
interest means1 with respect to a small 
business1 interest on indebtedness of   
not more than #e1jjj1jjj-- 7#a7 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 business1 or  7#b7 
incurred in the ordinary course of the  
trade or business of the small business4
  7c7 ,bank described  7#a7 ,in general 
,a bank is described in this subsection 
if the bank has less than               
#ej1jjj1jjj1jjj in assets at the close  
of the preceding taxable year4  7#b7    
,bank defined ,for purposes of this     
subsection-- 7,a7 ,in general ,the term 
bank means--  7i7 any financial         
institution described in section #eha or
 #eia1 and  7ii7 a corporation which1   
under the laws of the ,state of its     
incorporation1 is subject to supervision
 and examination by the ,commissioner of
 ,banking or other officer of such      
,state in charge of the administration  

of the banking laws of such ,state4     
7,b7 ,holding company ,the term bank    
includes-- 7i7 any bank holding company 
7within the meaning of section #b7;a7 of
 the ,bank ,holding ,company ,act of    
#aief71 and  7ii7 any subsidiary of a   
financial institution described in      
section #eha or #eia or of any bank     
holding company if such subsidiary is   
predominantly engaged 7directly or      
indirectly7 in the active conduct of a  
banking1 financing1 or similar business4
  7d7 ,small business ,the term small   
business means a small business concern 
as defined under section #c of the      
,small ,business ,act 7#ae ,u4,s4,c4    
#fcb74  7e7 ,farming business ,the term 
farming business has the meaning given  
such term by section #bfc;,a7e77#d74  4 
7b7 ,clerical amendment ,the table of   
sections for part ,,iii of subchapter ,b
 of chapter #a of such ,code is amended 
by inserting after the item relating to 
section #aci;,g the following new item3 
,sec4 #aci;,h4 ,interest on certain     

small business loans4  4  7c7 ,effective
 date ,the amendments made by this      
section shall apply to interest received
 in taxable years beginning after       
,december #ca1 #bjah4