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.
Sen. Tom Cotton
Sponsored bills
National Cold War Center Act of 2021 This bill designates the museum located at Blytheville/Eaker Air Force Base in Blytheville, Arkansas, as the National Cold War Center.
Equal Enforcement of Cocaine Laws Act This bill eliminates the federal sentencing disparity between drug offenses involving crack cocaine and powder cocaine. Currently, different threshold quantities of crack cocaine and powder cocaine (e.g., 28 grams of crack cocaine and 500 grams of powder cocaine) trigger the same statutory criminal penalties. Under the bill, the same threshold quantity of crack cocaine and powder cocaine (e.g., 28 grams) triggers the same statutory criminal penalties. The change applies to future cases and cases pending on the date of enactment. However, the change does not apply retroactively.
Holding the Chinese Communist Party Accountable for Infecting Americans Act of 2021 This bill allows foreign states to be sued in a U.S. court for physical or economic harms occurring in the United States as a result of COVID-19. (Typically, a foreign state is immune from lawsuits filed against it in a U.S. court.) Specifically, a foreign state shall not have immunity from a lawsuit seeking damages for (1) the foreign state's spread of COVID-19, or (2) tortious acts intended to deliberately conceal or distort the existence or nature of COVID-19. If the United States is in discussions with a foreign state that is seeking to resolve claims related to COVID-19 against the foreign state, the Department of Justice may intervene and seek a stay in a case filed under this bill involving the foreign state.
Education Savings Accounts for Military Families Act of 2021 This bill directs the Department of Education (ED) to establish a program to provide children with parents on active duty in the uniformed services with funds to pay educational expenses. Specifically, ED must establish a tax-exempt Military Education Savings Account for dependent children of parents in the uniformed services for the payment of the children's educational expenses. Funds in the savings account may be used for specified purposes, including the cost of attendance at a private elementary or secondary school or institution of higher education, private tutoring, or costs associated with an apprenticeship or other vocational training program.
Promoting Responsible and Effective Virtual Experiences through Novel Technology to Deliver Improved Access and Better Engagement with Tested and Evidence-based Strategies Act or the PREVENT DIABETES Act This bill requires the Centers for Medicare & Medicaid Services to allow online or virtual diabetes prevention programs that meet standards set by the Centers for Disease Control and Prevention (CDC) to participate in the Medicare Diabetes Prevention Program Expanded Model. The model provides CDC-approved training on dietary changes, physical activity, and other behavioral strategies for beneficiaries who are at risk of developing type 2 diabetes.
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.
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.
Foreign Funding Accountability Act of 2021 This bill requires institutions of higher education (IHEs) to disclose additional information related to gifts and contracts from foreign sources. Under current law, an IHE is required to disclose in a report to the Department of Education (ED) a gift or contract that is from a foreign source and is valued at $250,000 or more, considered alone or in combination with all other gifts from or contracts with a foreign source. The bill instead requires the IHE to disclose such a gift or contract that is valued at $25,000 or more, considered alone or in combination with all other gifts or contracts. In-kind gifts, gifts to foundations, and gifts to other legal entities that operate substantially for the benefit of the IHE are included in this limit. An IHE must disclose additional information in its report, including the intended purpose and function of the gift or contract. Further, an IHE must disclose gifts and contracts from foreign agents. Next, the bill authorizes ED to impose civil penalties on an IHE for failing to comply with disclosure requirements. An IHE that has violated these disclosure requirements three or more times shall be ineligible to enroll foreign students under the Student and Exchange Visitor Program and shall lose its tax-exempt status. An IHE must submit to ED a report for every qualifying event (e.g., each time it received a gift or contract valued at $25,000 or more) that occurred since October 7, 1998.
Hearing Protection Act This bill removes silencers from the definition of firearms for purposes of the National Firearms Act. It also treats persons acquiring or possessing a firearm silencer as meeting any registration and licensing requirements of such Act. The Department of Justice must destroy certain records relating to the registration, transfer, or making of a silencer. The bill also revises the definitions of firearm silencer and firearm muffler under the federal criminal code and includes such items in the 10% excise tax category.