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TREAS/IRS RIN: 1545-BR89 Publication ID: 2026 
Title: ●Exclusion of Interest on Loans Secured by Rural or Agricultural Real Property 
Abstract:

The proposed regulations would address the exclusion of interest on loans secured by rural or agricultural real property under section 139L of the Internal Revenue Code (Code).  Section 139L was added to the Code by Public Law 119-21, 139 Stat. 72 (July 4, 2025), commonly known as the One, Big, Beautiful Bill Act.

 
Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Proposed Rule Stage 
Major: No  Unfunded Mandates: No 
EO 14192 Designation: Other 
CFR Citation: 26 CFR 1.139L-1   
Legal Authority: 26 U.S.C. 7805    Pub. L. 119-21, sec. 70435   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  07/00/2026 
Additional Information: REG-117044-25 Drafting Attorney: Matthew DeBenedetto (202) 317-3998 Reviewing Attorney: Diana Imholtz (202) 317-4410 Treasury Attorney: Jonathan LaPlante (202) 705-5035 CC: FIP
Regulatory Flexibility Analysis Required: Undetermined  Government Levels Affected: None 
Small Entities Affected: Businesses  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Matthew DeBenedetto
Attorney
Department of the Treasury
Internal Revenue Service
1111 Constitution Avenue NW,
Washington, DC 20224
Phone:202 317-3998
Fax:855 574-9025
Email: matthew.m.debenedetto@irscounsel.treas.gov