MINT Act

This bill changes the federal tax code so that state and local government bonds backed by a guarantee from a Federal Home Loan Bank are not treated as federally guaranteed, which allows them to keep their tax-exempt status. A similar rule existed before but only covered bonds first issued through December 31, 2010; the bill removes that time limit. It also changes the safety and soundness requirements tied to these guarantees so that they are set by the Director of the Federal Housing Finance Agency from time to time, replacing the standards currently written in the law. The changes apply to guarantees made after the bill becomes law.

Full text and official record on Congress.gov

Sponsors

• Catherine Cortez Masto Democrat sponsor
• 4 cosponsors