Modernizing Agricultural and Manufacturing Bonds Act

3.0.0 2653 2025-12-05T08:12:20Z 2025-12-05T08:12:20Z Senate S S 2023-07-27 118 https://www.congress.gov/bill/118th-congress/senate-bill/2653 ssfi00 Finance Committee Senate Standing Referred To 2023-07-27T20:24:42Z Modernizing Agricultural and Manufacturing Bonds Act 118 2723 S 2023-09-05 Read twice and referred to the Committee on Finance. Related bill CRS Modernizing Agricultural and Manufacturing Bonds Act 118 3787 HR 2023-06-01 Referred to the House Committee on Ways and Means. Identical bill CRS 2023-07-27 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2023-07-27 Introduced in Senate IntroReferral 10000 9 Library of Congress B000944 Sen. Brown, Sherrod [D-OH] Sherrod Brown D OH N Taxation Taxation 2023-08-29T19:45:33Z

00 2023-07-27 Introduced in Senate 2023-09-28T13:45:07Z Modernizing Agricultural and Manufacturing Bonds Act This bill modifies provisions relating to qualified small issue bonds for manufacturing purposes by expanding the definition of manufacturing facility to include a facility that (1) is used in the creation or production of intangible property; or (2) is functionally related, subordinate to, and located on the same site as a facility used in the manufacturing or production of tangible or intangible personal property. The bill also increases from $10 million to $30 million the maximum bond size limitation. The bill modifies requirements for private activity bond financing for first-time farmers. The modified provisions (1) increase from $450,000 to $1 million (adjusted annually for inflation) the amount of bond proceeds that may be used by a first-time farmer to acquire land for farming purposes, (2) repeal the separate dollar limitation on the use of bond proceeds for used farm equipment, and (3) revise the definition of substantial farmland to determine farm size by reference to the average (instead of median) size of a farm in the county in which the farm is located.

Modernizing Agricultural and Manufacturing Bonds Act Display Title 45 Modernizing Agricultural and Manufacturing Bonds Act 2024-07-24T15:20:42Z Short Title(s) as Introduced 101 Modernizing Agricultural and Manufacturing Bonds Act 2024-05-24T13:37:10Z Introduced in Senate IS Official Title as Introduced 6 A bill to amend the Internal Revenue Code of 1986 to modify certain rules applicable to qualified small issue manufacturing bonds, to expand certain exceptions to the private activity bond rules for first-time farmers, and for other purposes. 2023-08-22T01:59:05Z Introduced in Senate IS Introduced in Senate 2023-07-27T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-118s2653is/xml/BILLS-118s2653is.xml 2023-07-27 Read twice and referred to the Committee on Finance. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.