S 3941
MINT Act
Jurisdiction
US Congress
Session
119th Congress (2025-2026)
Last updated at
Jun 14, 2026, 7:28 AM
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
The MINT Act aims to restore the tax-exempt status of certain state and local bonds that are secured by letters of credit from Federal Home Loan Banks. Currently, these bonds were treated differently for tax purposes due to a change in the Internal Revenue Code in 2011. This legislation seeks to reverse that change, benefiting local governments and potentially lowering borrowing costs for municipalities. It specifically addresses how federal home loan bank guarantees are considered when determining a bond’s tax-exempt status.
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