119 S3941 IS: Municipal Investment and Neighborhood Transformation Act U.S. Senate 2026-02-26 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.

II119th CONGRESS2d SessionS. 3941IN THE SENATE OF THE UNITED STATESFebruary 26, 2026Ms. Cortez Masto (for herself, Mr. Young, and Mr. Justice) introduced the following bill; which was read twice and referred to the Committee on FinanceA BILLTo amend the Internal Revenue Code of 1986 to restore treatment of State and local bonds which are guaranteed by a Federal home loan bank as not federally guaranteed for purposes of determining their tax-exempt status.

1.

Short title

This Act may be cited as the Municipal Investment and Neighborhood Transformation Act or the MINT Act.

2.

Federal Home Loan Bank Letters of Credit on Tax-Exempt Bonds

(a)

In general

Clause (iv) of section 149(b)(3)(A) of the Internal Revenue Code of 1986 is amended by striking made in connection with the original issuance of a bond during the period beginning on the date of the enactment of this clause and ending on December 31, 2010.(b)

Safety and soundness requirements

Subparagraph (E) of section 149(b)(3) of the Internal Revenue Code of 1986 is amended by striking which are at least and all that follows through the period and inserting as are established by the Director of the Federal Housing Finance Agency from time to time..(c)

Effective date

The amendments made by this section shall apply to guarantees made after the date of enactment of this Act.