US SB838

Excludes from gross income any interest received by qualified lenders on loans secured by rural or agricultural real estate, forestland, or aquaculture facilities

Qualified lenders include FDIC-insured banks, state or federally regulated insurance companies, certain bank holding company subsidiaries, and Farm Credit System instrumentalities

Single-family residences in rural areas qualify if used as principal residence, with loan proceeds for purchase/improvement and principal capped at $750,000

Prohibits the tax exclusion for loans made to foreign adversary entities, including those from China, Cuba, Iran, North Korea, Russia, and Venezuela under Maduro

Requires Treasury Department report to Congress within 5 years analyzing whether the provision has reduced interest rates on qualifying rural and agricultural loans