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119-s-3941119th CongressWALLET

MINT Act

Sponsored By: Senator Cortez Masto, Catherine [D-NV]

Introduced

Summary

Restores tax-exempt treatment for municipal bonds guaranteed by a Federal Home Loan Bank. The bill would remove a time-limited restriction on those guarantees, let the Director of the Federal Housing Finance Agency set safety-and-soundness standards, and apply the changes only to guarantees made after enactment.

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  • State and local governments: Would be able to use Federal Home Loan Bank guarantees for bonds issued after enactment beyond the old 2010 cutoff, affecting whether interest qualifies as tax-exempt.
  • Investors in municipal bonds: Interest on bonds guaranteed by a Federal Home Loan Bank would be treated as not federally guaranteed for tax-exempt status when the bill's rules apply.
  • Federal Housing Finance Agency: Replaces a fixed statutory safety threshold with standards established by the FHFA Director over time.

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 0 benefits, 0 costs, 1 mixed.

New safety rules for municipal bond guarantees

This bill would change how some Federal Home Loan Bank guarantees count for tax-exempt bonds. It would remove a time limit that referred to guarantees tied to original bond issuances ending on December 31, 2010. It would let the Director of the Federal Housing Finance Agency set the safety-and-soundness rules for those guarantees. The changes would apply only to guarantees made after the date of enactment of this Act and would affect municipal borrowers, guarantor banks, and investors.

Sponsors & CoSponsors

Sponsor

Cortez Masto, Catherine [D-NV]

NV • D

Cosponsors

  • Sen. Young, Todd [R-IN]

    IN • R

    Sponsored 2/26/2026

  • Sen. Justice, James C. [R-WV]

    WV • R

    Sponsored 2/26/2026

  • Sen. Blackburn, Marsha [R-TN]

    TN • R

    Sponsored 5/19/2026

  • Sen. Bennet, Michael F. [D-CO]

    CO • D

    Sponsored 7/14/2026

Roll Call Votes

No roll call votes available for this bill.

View on Congress.gov
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