Bill > HR2737

This bill, the Modernizing Agricultural and Manufacturing Bonds Act, proposes several changes to the Internal Revenue Code to modify rules related to qualified small issue manufacturing bonds and expand certain exceptions to the private activity bond rules for first-time farmers. Specifically, the bill would: 1) expand the definition of "manufacturing facility" to include the creation or production of intangible property and facilities that are functionally related and subordinate to a manufacturing facility; 2) increase the limitation on the size of qualified small issue bonds from $10 million to $50 million and index that amount for inflation; and 3) increase the dollar limitation on the exception to the private activity bond rules for first-time farmers from $450,000 to $552,500, repeal the separate lower dollar limitation on used farm equipment, and index the new dollar limitation for inflation.

Budget and Finance

https://www.congress.gov/bill/117th-congress/house-bill/2737/all-info