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S3941119th CongressWALLET

MINT Act

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

Introduced

Summary

Restores tax-exempt treatment for state and local bonds guaranteed by Federal Home Loan Banks. This bill would remove a 2010 sunset that limited guarantees tied to a bond's original issuance and let the Director of the Federal Housing Finance Agency set ongoing safety and soundness standards for those guarantees. It would apply these changes to guarantees made after the date of enactment.

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  • State and local governments: Would preserve or expand the ability to issue bonds backed by Federal Home Loan Banks that qualify for tax-exempt status, keeping a tax-preferred financing option for local projects.
  • Investors and bondholders: Would generally maintain tax-exempt interest treatment on bonds covered by Federal Home Loan Bank guarantees, which affects how those bond returns are taxed.
  • Federal Housing Finance Agency and Federal Home Loan Banks: Would shift the safety and soundness standard to the FHFA Director's ongoing guidance, changing who sets the regulatory rules for these guarantees.

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Bill Overview

Analyzed Economic Effects

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

More municipal bonds backed by FHLBs

This bill would change federal tax rules for state and local bonds guaranteed by a Federal Home Loan Bank. It would remove a prior time limit that tied qualifying guarantees to original bond issuances through December 31, 2010. Guarantees made after the date of enactment would be able to count for tax-exempt treatment. The bill would also let the Director of the Federal Housing Finance Agency set the safety-and-soundness requirements for those guarantees.

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

Roll Call Votes

No roll call votes available for this bill.

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