CCBN, ICBA, state groups urge broad implementation of ACRE Act tax exclusion
ICBA and its affiliated state banking associations shared recommendations for implementing Section 139L of the One Big Beautiful Bill Act, also known as the Access to Credit for our Rural Economies Act. The recommendations are based on decades of experience and honed expertise in working with American farmers and ranchers.
Community banks urged the Treasury Department to implement Section 139L to ensure that it will bring needed interest rate relief to American farmers and ranchers and generate growth in surrounding communities. To achieve this, as many agricultural loans as possible, consistent with the statute and congressional intent, should qualify under Section 139L. An unreasonably narrow interpretation of Section 139L would shortchange the potential of the OBBBA.