Modernizing Agricultural and Manufacturing Bonds Act
Introduced June 2, 2026 · Last action June 2, 2026
Plain English Summary
This bill makes it easier and cheaper for small manufacturers and first-time farmers to borrow money by expanding the types of projects they can finance through tax-exempt bonds and raising the borrowing limits. Manufacturers can now use bonds to finance intangible property production and related facilities, while first-time farmers can borrow up to $1 million instead of $450,000, with limits adjusted automatically for inflation each year.
Who benefits
Small and mid-size manufacturers (especially those producing software, patents, or other intangible property), technology and intellectual property companies locating production facilities, first-time farmers purchasing land and equipment, agricultural finance companies that originate these bonds, investment banks that underwrite tax-exempt bonds, and municipal finance professionals who structure these deals
Who pays / loses
Existing full-tax manufacturers and farmers who are not first-time (because bond program benefits are now spread to intangible property producers and higher borrowing caps may create competition for limited tax-exempt bond allocations), and federal taxpayers indirectly (because tax-exempt bonds reduce federal revenue compared to taxable borrowing)
Funding & Lobbying Interests
Industries and companies benefiting from and likely lobbying for this bill include: technology and software manufacturers (who can now finance intangible property production), agricultural equipment manufacturers and farm lenders (seeking higher farmer borrowing limits), investment banking and bond underwriting firms (increased volume of bonds), municipal and agricultural development authorities (expanded eligible projects), and farming organizations representing first-time farmers. The bill's sponsors include Mr. LaHood (Illinois, manufacturing state), Mr. Evans of Pennsylvania (manufacturing state), Mr. Feenstra (Iowa, agriculture state), and Ms. Sewell (Alabama, manufacturing state), suggesting bipartisan manufacturing and agriculture coalition backing.
Sponsor
Sponsor information not available.
Vote Record
No recorded votes.
Campaign Finance — Primary Sponsor
No campaign finance data available yet.
501(c)(4) disclosure: Contributions from 501(c)(4) "dark money" organizations are not required to be publicly disclosed and are not reflected in the figures above. Data sourced from FEC public disclosure filings.
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