2,500 or less, and (iii) which is purchased or improved with the proceeds of the qualified real estate loan. (c) Coordination with section 265 Qualified real estate loans shall be treated as obligations described in section 265(a)(2) the interest on which is wholly exempt from the taxes imposed by this subtitle. . (b) Clerical amendment The table of sections for such part III is amended by inserting after the item relating to section 139F the following new item: Sec. 139G. Interest on loans secured by agricultural real property. . (c) Effective date The amendments made by this section shall apply to taxable years beginning after the date of the enactment of this Act.