Modernizing Agricultural and Manufacturing Bonds Act
Congress Raises Tax-Advantaged Bond Limits for Manufacturers and First-Time Farmers
Legislative Progress
Key Points
- Raises the cap on certain tax-advantaged manufacturing bonds from $10 million to $30 million, and boosts the per-taxpayer limit from $40 million to $120 million.
- Broadens what counts as a “manufacturing facility” to include making certain intangible products and some related on-site support buildings, with limits on how much bond money can go to extras.
- Adds annual inflation adjustments after 2025 so the new bond limits can rise over time instead of staying fixed.
- Expands bond financing options for first-time farmers by raising the dollar limit for qualifying property from $450,000 to $1,000,000 and removing a separate lower cap for used farm equipment.
- Changes how “substantial farmland” is measured (using average farm size instead of median) and sets most farm-related changes to start for bonds issued after Dec. 31, 2025.
Impact Analysis
Personal Impact
How this policy affects specific groups of people
Milestones
Committee on Small Business and Entrepreneurship. Hearings held.
Read twice and referred to the Committee on Finance.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Introduced in Senate
The bill was officially filed and given a number. It now enters the legislative queue.
Votes
No votes have been recorded for this legislation yet.
Related News
2 articles
MAMBA revived in Senate
Covers the Senate reintroduction of the Modernizing Agricultural and Manufacturing Bonds Act, detailing higher caps for small-issue manufacturing bonds and expanded first-time farmer (Aggie Bond) rules.
Ernst touts MAMBA Act, seeks opportunities for first-time farmers
Interview-style coverage of the bill’s changes to Aggie Bonds and manufacturing bond limits, emphasizing higher caps and removal of older restrictions for beginning farmers.
Source Information
Document Type
Congressional Bill
Official Title
Modernizing Agricultural and Manufacturing Bonds Act
Data Sources
Sponsor
Cosponsors
(2)Analysis generated by AI. Always verify with official sources.