Bills · S 3941
IN COMMITTEE· 119TH CONGRESS
Senate BillS 3941Taxation
MINT Act
INTRO FEB 26· LAST ACTION FEB 26
READING
2MIN
COSPONSORS
4BIPARTISAN
READER REACTIONS0 TOTAL
NO VOTES YET · BE THE FIRST
- Introduced only
LEGISLATIVE PROGRESS
STEP 2 / 8Introduced
In Committee
Reported
Passed Senate
Passed House
Conference
To President
Became Law
WHAT THE BILL DOES
AI-writtenThis bill matters because it directly impacts how state and local governments fund essential public services and infrastructure projects, such as building schools, repairing roads, or improving water systems. When municipal bonds are tax-exempt, investors don't have to pay federal income tax on the interest they earn, which encourages them to buy these bonds even at a lower interest rate. This allows cities and states to borrow money more cheaply.
If this bill becomes law, it would restore an important tool for state and local governments to secure lower borrowing costs by utilizing Federal Home Loan Bank guarantees while maintaining tax-exempt status. Without this bill, more of these FHLB-guaranteed bonds would likely become taxable, leading to higher borrowing costs for local governments, which could mean fewer public projects or increased financial strain on communities.
KEY PROVISIONS
3AI-extractedPROVISION 01
Removes the December 31, 2010, expiration date that limited the ability of state and local bonds guaranteed by Federal Home Loan Banks to be considered 'not federally guaranteed' for tax exemption purposes.
This provision is crucial because it allows more state and local bonds that receive FHLB guarantees to remain tax-exempt, potentially lowering borrowing costs for public projects.
PROVISION 02
Changes the authority for setting safety and soundness requirements for these guarantees, assigning it to the Director of the Federal Housing Finance Agency to establish as needed.
This updates the regulatory oversight for FHLB guarantees, allowing for more flexible and current standards to be applied to ensure financial stability.
PROVISION 03
Stipulates that the changes made by the bill will apply to any guarantees made after the date the Act becomes law.
This defines when the new rules will take effect, providing clarity for future bond issuances and guarantees.
SPONSORSHIP
1 + 4
D· Nevada
YRS IN OFFICE
9
BILLS LED
122
COSPONSOR BREAKDOWNBIPARTISAN · 50%
DEM 1 REP 3 IND 0
ACTION TIMELINE
2 EVENTSFEB 26
Introduced in Senate
FEB 26
Read twice and referred to the Committee on Finance.
BILL INFO
TypeSenate Bill
NumberS 3941
Congress119th
StatusIn Committee
IntroducedFeb 26, 2026
Last actionFeb 26, 2026
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IN COMMITTEE· 119TH CONGRESS · FINANCE COMMITTEE · INTRODUCED FEB 26, 2026
Senate BillS 3941Taxation
MINT Act
INTRODUCED FEB 26, 2026· LAST ACTION FEB 26, 2026
PASSAGE CHANCES
—%
READING
2 min
COSPONSORS
4
COMPLEXITY
Moderate
