A bill to exclude from gross income, for purposes of Federal income tax, interest paid to sellers of agricultural land purchased with loans made by such sellers to certain farmers and ranchers and insured under the Consolidated Farm and Rural Development Act.

[AI summary unavailable — showing source text] Amends the Internal Revenue Code to exclude from gross income interest income received by a seller of agricultural land pursuant to an insured loan under the Consolidated Farm and Rural Development Act which is extended to certain new farmers or ranchers.…