H.R. 7769

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[H.R. 7769 Introduced in House (IH)]

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119th CONGRESS
2d Session
H. R. 7769

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.

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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.

Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

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

SEC. 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.
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