Bill Seeks to Boost FHLB Member Funding for Community Development Projects

Posted: Mar 04 2026

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/