To amend the Internal Revenue Code of 1986 to clarify the treatment of interest income and rental expense in connection with safe harbor leases involving rural electric cooperatives.

[AI summary unavailable — showing source text] Requires interest income from certain qualified leased property transactions of rural electric cooperatives to be offset by rental expenses of such transactions before allocating income or expense to members and nonmembers of such cooperatives for purposes of the accelerated cost recovery system of the Internal Revenue Code.…