What does Preamble of HR 7769 do?

This bill proposes to amend the Internal Revenue Code of 1986. The proposed amendment concerns the tax-exempt status of State and local bonds. Specifically, it aims to restore treatment of bonds guaranteed by a Federal home loan bank as not federally guaranteed for tax purposes.

What does SHORT TITLE. of HR 7769 do?

This bill is formally titled the Municipal Investment and Neighborhood Transformation Act.

What does FEDERAL HOME LOAN BANK LETTERS OF CREDIT ON TAX-EXEMPT BONDS. of HR 7769 do?

This section amends section 149(b)(3)(A) of the Internal Revenue Code of 1986 by removing a time limitation related to letters of credit for Federal Home Loan Banks. The amendment removes the phrase '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'. This section also amends section 149(b)(3) of the Internal Revenue Code of 1986, changing how safety and soundness requirements are determined for letters of credit. The amendment replaces 'which are at least' with 'as are established by the Director of the Federal Housing Finance Agency from time to time.' The amendments made by this section apply to guarantees made after the date of enactment of this Act.

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MINT Act — HR. 7769

Last updated: 3/3/2026 · Introduced: 3/3/2026

Author: Lisa McClain (R-MI)

TL;DR (AI)

This bill modifies tax rules related to bonds guaranteed by Federal Home Loan Banks, restoring prior tax treatment for these bonds.
It removes time limitations on letters of credit from Federal Home Loan Banks used with tax-exempt bonds.
The bill updates safety and soundness requirements for these letters of credit, aligning them with standards established by the Federal Housing Finance Agency.

119th Congressin committeeOfficial page

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Other Sections

Includes provisions on preamble, short title., and 1 more.

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