Key Takeaways
- NACo sent a letter to the U.S. Senate endorsing the Municipal Investment and Neighborhood Transformation Act (S. 3941), or MINT Act, bipartisan legislation introduced by Sens. Catherine Cortez Masto (D-Nev.), Todd Young (R-Ind.) and Jim Justice (R-W.Va.
- The bill would permanently restore the ability of Federal Home Loan Banks (FHLBs) to provide letters of credit that enhance state and local tax-exempt bonds, lowering borrowing costs for the infrastructure, public facilities and affordable housing.
On May 12, NACo sent a letter to Sens. Catherine Cortez Masto (D-Nev.), Todd Young (R-Ind.) and Jim Justice (R-W.Va.) endorsing their bipartisan Municipal Investment and Neighborhood Transformation Act (S. 3941), known as the MINT Act. The legislation would permanently restore the treatment of state and local bonds guaranteed by a Federal Home Loan Bank (FHLB) as not federally guaranteed for purposes of determining their tax-exempt status.
National Association of Counties
by Jeffrey Thorsby
Legislative Director
May 29, 2026