Enhancing Credit Opportunities in Rural America Act of 2021 or the ECORA Act of 2021 This bill modifies the requirements for calculating taxable income to exclude from gross income interest received by a lender from real estate loans secured by agricultural real estate or by a leasehold mortgage (with a status as a lien) on agricultural real estate. Agricultural real estate includes real property that is substantially used for the production of one or more agricultural products. It also includes any single family residence that is (1) the principal residence of its occupant, (2) located in a rural area which is not within a Metropolitan Statistical Area and has a population of 2,500 or less, and (3) is purchased or improved with the proceeds of a loan secured by agricultural real estate or by a household mortgage.
Sponsored bills
Stop Settlement Slush Funds Act of 2021 This bill prohibits the federal government from entering into or enforcing a settlement agreement on behalf of the United States that provides for a payment or loan to any person or entity other than the United States. The bill provides exceptions to allow payments or loans that (1) remedy actual harm (including to the environment) caused by the party making the payment or loan, or (2) constitute a payment for services rendered in connection with the case or a payment that a court may order for restitution to victims in certain criminal cases or other persons in plea agreements. Government officials or agents who violate this prohibition may be removed from office or required to forfeit to the government any money they hold for such purposes to which they may otherwise be entitled. Agencies must report annually to the Congressional Budget Office about the parties, funding sources, and distribution of funds for their settlement agreements permitted by the exceptions in this bill.
Taiwan Defense Act of 2021 This bill establishes that it shall be U.S. policy to maintain the ability of the U.S. Armed Forces to defeat attempts by China to invade and seize control of Taiwan before U.S. forces can respond effectively.
People's Liberation Army Visa Security Act This bill bars individuals affiliated with the Chinese military from entering the United States on visas for students (F visa) or work-and-study exchange (J visa). The President shall publish a list identifying research, engineering, and scientific institutions affiliated with or funded by China's People's Liberation Army. Aliens who are or were previously employed, sponsored, or funded by any institution on the list shall be subject to the bar. When a Chinese national applies for an F or J visa for an academic field related to an item on the Commerce Control List (a list of items subject to export controls), the consular officer handling the application shall request a special background check on the applicant.
Metropolitan Statistical Area Preservation Act This bill prohibits the Office of Management and Budget (OMB) from establishing, for purposes of designating areas as metropolitan statistical areas (MSAs), a minimum population for the urban area of such MSA that is more than 50,000. The OMB may, for statistical purposes only, establish other statistical area designations with higher minimum population requirements for such urban areas.
Saving American History Act of 2021 This bill prohibits the use of federal funds by an elementary or secondary school to teach the 1619 Project or by a local educational agency (LEA) to support its teaching in public schools. (The 1619 Project is an initiative that addresses the beginning of slavery in the United States.) Specified federal agencies must reduce federal funds in a prorated amount to an elementary or secondary school that teaches this project or an LEA that supports its teaching in public schools. However, federal funding shall not be reduced for programs for low-income students (e.g., free or reduced-price lunch) or students with disabilities.
Federal Debt Emergency Control Act of 2021 This bill establishes various budget enforcement procedures to address the federal debt. The procedures established by the bill take effect during any fiscal year that follows a fiscal year in which the amount of federal debt exceeded the gross domestic product (GDP) for that fiscal year. During such a period, the bill rescinds unobligated balances of stimulus spending that was provided in specified bills that addressed the impact of COVID-19, establishes a point of order against legislation that increases spending, and requires Congress to consider certain deficit reduction measures using specified expedited legislative procedures. The expedited legislative procedures must be used for legislation that (1) would reduce the deficit by at least 5% during the 10-fiscal-year period following the current fiscal year, and (2) does not increase the rate of any federal tax or increase any fee paid to the federal government.
This resolution offers the condolences of the Senate regarding the death of Senator John William Warner and expresses deep appreciation for his outstanding and important service to his country.
This bill authorizes the Department of the Interior to take land into trust for all federally recognized Indian tribes. Specifically, the bill applies the Indian Reorganization Act to all federally recognized Indian tribes, regardless of when a tribe became recognized. The amendments made by this bill are retroactively effective as if included in the Indian Reorganization Act. This effectively overrules the Supreme Court's decision in Carcieri v. Salazar, which held that Interior could not take land into trust for a specified tribe because that tribe had not been under federal jurisdiction when the Indian Reorganization Act was enacted in 1934.
This resolution offers the condolences of the Senate regarding the death of Senator David Henry Gambrell and honors his life and legacy.