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Titles Actions Overview All Actions Cosponsors Committees Related Bills Subjects Latest Summary All Summaries

Titles (3)

Short Titles

Short Titles - House of Representatives

Short Title(s) as Introduced

ABC Act of 2019
Access Business Credit Act of 2019

Official Titles

Official Titles - House of Representatives

Official Title as Introduced

To amend the Internal Revenue Code of 1986 to provide an exclusion from gross income for interest on certain small business loans.

Actions Overview (1)

Date Actions Overview
10/23/2019Introduced in House

All Actions (2)

Date All Actions
10/23/2019Referred to the House Committee on Ways and Means.
Action By: House of Representatives
10/23/2019Introduced in House
Action By: House of Representatives

Cosponsors (3)

* = Original cosponsor
CosponsorDate Cosponsored
Rep. Burchett, Tim [R-TN-2]* 10/23/2019
Rep. Horn, Kendra S. [D-OK-5]* 10/23/2019
Rep. Torres Small, Xochitl [D-NM-2] 01/14/2020

Committees (1)

Committees, subcommittees and links to reports associated with this bill are listed here, as well as the nature and date of committee activity and Congressional report number.

Committee / Subcommittee Date Activity Related Documents
House Ways and Means10/23/2019 Referred to

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Subjects (7)

Latest Summary (1)

There is one summary for H.R.4805. View summaries

Shown Here:
Introduced in House (10/23/2019)

Access Business Credit Act of 2019 or the ABC Act of 2019

This bill modifies the requirements for calculating taxable income to exclude from the gross income of certain banks interest received on small business loans of up to $5 million.

The bill applies to loans that are (1) 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 business, or (2) incurred in the ordinary course of the trade or business of the small business.

To be eligible for the exclusion, the bank must have less than $50 billion in assets at the closing of the preceding taxable year.