NDBA - North Dakota Bankers Association
03/04/2026 | Press release | Distributed by Public on 03/04/2026 09:04
Bill Seeks to Boost FHLB Member Funding for Community Development Projects
Lawmakers in the Senate and House have introduced bipartisan legislation to eliminate a regulatory hurdle for Federal Home Loan Bank member institutions when seeking to fund community development projects.
Currently, FHLB member institutions are allowed to support municipalities when setting up housing-related tax-exempt bonds but are unable to do so for many other community development projects, such as infrastructure. The Municipal Investment and Neighborhood Transformation, or MINT, Act would include non-housing community development projects eligible for letters of credit from FHLBank member institutions.
"The MINT Act permanently restores letters of credit supporting non-housing tax-exempt bonds as a proven tool that empowers local communities to finance critical infrastructure - including schools, healthcare facilities, water systems, and other essential projects - more affordably," Ryan Donovan, president and CEO of the Council of Federal Home Loan Banks, said in a statement in support of the bill.
To read more, visit: https://www.cortezmasto.senate.gov/news/press-releases/cortez-masto-young-mcclain-liccardo-introduce-legislation-to-support-community-development-projects-nationwide/
Currently, FHLB member institutions are allowed to support municipalities when setting up housing-related tax-exempt bonds but are unable to do so for many other community development projects, such as infrastructure. The Municipal Investment and Neighborhood Transformation, or MINT, Act would include non-housing community development projects eligible for letters of credit from FHLBank member institutions.
"The MINT Act permanently restores letters of credit supporting non-housing tax-exempt bonds as a proven tool that empowers local communities to finance critical infrastructure - including schools, healthcare facilities, water systems, and other essential projects - more affordably," Ryan Donovan, president and CEO of the Council of Federal Home Loan Banks, said in a statement in support of the bill.
To read more, visit: https://www.cortezmasto.senate.gov/news/press-releases/cortez-masto-young-mcclain-liccardo-introduce-legislation-to-support-community-development-projects-nationwide/
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