HR 5422
Modernizing Agricultural and Manufacturing Bonds Act
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Sign in to take action- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Bill overview
The Modernizing Agricultural and Manufacturing Bonds Act aims to support farmers and manufacturers by modifying rules related to bond financing. It expands the definition of a ‘manufacturing facility’ to include those involved in creating intangible property and functionally related facilities. The bill increases the maximum size of qualified small issue bonds for manufacturing, raises the amount of bond proceeds first-time farmers can use to purchase farmland, and adjusts the definition of ‘substantial farmland’ to use the average farm size in a county instead of the median. These changes are designed to encourage investment in these sectors.
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Primary sponsor
Stephanie N. Murphy
Cosponsors
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