MINT Act
Sponsored By: Representative McClain
Introduced
Summary
Restores tax-exempt treatment for state and local bonds guaranteed by a Federal Home Loan Bank. The bill would remove a time-limited condition on that treatment and let the Director of the Federal Housing Finance Agency set ongoing safety and soundness standards for those guarantees.
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- Municipal borrowers and local projects: Would let bonds guaranteed by a Federal Home Loan Bank qualify for tax-exempt interest treatment again, which can broaden financing options for state and local issuers.
- Investors and bond markets: Interest on guarantees made after enactment would be treated as not federally guaranteed for tax-exemption purposes, affecting how income from those bonds is taxed.
- FHFA oversight: Would replace a fixed statutory safety standard with criteria set by the Director of the Federal Housing Finance Agency that can be updated over time, shifting who defines acceptable guarantee practices.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
More Federal Home Loan Bank guarantees
If enacted, this bill would change how bonds guaranteed by a Federal Home Loan Bank are treated for tax-exempt status. It would remove a time limit that tied certain guarantees to bond issuances that occurred by December 31, 2010. It would let the Director of the Federal Housing Finance Agency set safety-and-soundness standards going forward. The amendments would apply to guarantees made after the date of enactment and would generally let issuers and investors rely on more guarantees being treated as not federally guaranteed for tax-exempt purposes.
Sponsors & CoSponsors
Sponsor
McClain
MI • R
Cosponsors
Liccardo
CA • D
Sponsored 3/3/2026
Rep. Tenney, Claudia [R-NY-24]
NY • R
Sponsored 3/3/2026
Rep. Horsford, Steven [D-NV-4]
NV • D
Sponsored 3/3/2026
LaHood
IL • R
Sponsored 3/3/2026
Rep. Perez, Marie Gluesenkamp [D-WA-3]
WA • D
Sponsored 3/3/2026
Salazar
FL • R
Sponsored 5/13/2026
Rep. Beatty, Joyce [D-OH-3]
OH • D
Sponsored 5/13/2026
Roll Call Votes
No roll call votes available for this bill.
View on Congress.gov