← Back to Bills
H.R. 7769House119th Congress (2025-2027)In Committee

MINT Act

Sponsored by Lisa C. McClainRep. Lisa C. McClain (R-MI)
Introduced March 3, 2026

AI-Generated Summary

Updated March 4, 2026 at 9:30 AM UTC

The Municipal Investment and Neighborhood Transformation (MINT) Act changes how the tax code treats state and local bonds that are backed by Federal home loan banks. It restores the previous treatment that such bonds are not considered federally guaranteed, allowing them to keep their tax‑exempt status. The bill removes a dated limitation and ties safety‑and‑soundness requirements to standards set by the FHFA, applying only to new guarantees after enactment.

Key Provisions

  • Amends the tax code to remove the 2010 cutoff, so bonds guaranteed by Federal home loan banks are no longer considered federally guaranteed for tax‑exempt status.
  • Changes the safety‑and‑soundness language to refer to standards set by the Director of the Federal Housing Finance Agency, rather than a fixed percentage.
  • Specifies that the changes apply only to guarantees made after the law takes effect.

Legislative Activity

Stay on top of the latest movement without scrolling through every action

1 earlier action
HouseIntro Referral Latest Action

Referred to the House Committee on Ways and Means.

Ways and Means Committee

March 3, 2026

View full timeline
HouseIntro Referral

Introduced in House

March 3, 2026

HouseIntro Referral

Referred to the House Committee on Ways and Means.

Ways and Means Committee

March 3, 2026

Bill Text

Latest available legislative text

Reading Mode
Latest
Raw Text PDF XML
Introduced in HouseIssued March 3, 2026

I

119th CONGRESS

2d Session

H. R. 7769

IN THE HOUSE OF REPRESENTATIVES

March 3, 2026

Mrs. McClain (for herself, Mr. Liccardo, Ms. Tenney, Mr. Horsford, Mr. LaHood, and Ms. Perez) introduced the following bill; which was referred to the Committee on Ways and Means

A BILL

To 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.