A quarter of the interest is left out of the lender's income
What the document says“Gross income shall not include 25 percent of the interest received by a qualified lender on any qualified real estate loan.”
The section adds a new section 139L to part III of subchapter B of chapter 1 of the Internal Revenue Code of 1986 leaving 25 percent of the interest a qualified lender receives on a qualified real estate loan out of gross income.
What the document actually says“Gross income shall not include 25 percent of the interest received by a qualified lender on any qualified real estate loan.”
A quarter of the interest is left out of income. That is interest a lender takes in on a qualified loan.
So the lender pays tax on the other three quarters. The next rules say who counts as a lender. They also say which loans count.
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