Summary: H.R.4854 — 109th Congress (2005-2006)All Information (Except Text)

There is one summary for H.R.4854. Bill summaries are authored by CRS.

Shown Here:
Introduced in House (03/02/2006)

Rural Communities Investment Act of 2006 - 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.