S. 2100 · In committee · Taxation

Modernizing Agricultural and Manufacturing Bonds Act

What it does

Expands the definition of manufacturing facilities to include production of intangible property and functionally related facilities, subject to a 25 percent net proceeds limitation for ancillary facilities.
Increases the qualified small issue bond limit from $10,000,000 to $30,000,000 and the per-taxpayer aggregate limit from $40,000,000 to $120,000,000, with annual inflation adjustments beginning in 2025.
Raises the dollar limitation for first-time farmer bonds from $450,000 to $1,000,000 and eliminates the separate lower limit on used farm equipment, with annual inflation adjustments beginning in 2026.
Changes the substantial farmland test from median to average farm size for determining eligibility under first-time farmer bond exceptions.

Jan 14, 2026: Committee on Small Business and Entrepreneurship. Hearings held.

Committee: Senate Small Business and Entrepreneurship