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Increased Tax-Exempt Financing Limits for Small Manufacturers and New Farmers

This law significantly raises the financial limits for tax-exempt bonds used by small and medium-sized manufacturers and first-time farmers. These changes make it easier for businesses and new agricultural producers to secure larger amounts of capital for facilities and equipment, potentially lowering their borrowing costs. The act also expands the definition of manufacturing to include the production of intangible property and introduces inflation adjustments for the new limits.
Key points
The financing limit for small manufacturing facilities (including technology producers) triples from $10 million to $30 million.
First-time farmers can access more than double the financial support for land and equipment purchases, as the limit increases from $450,000 to $1,000,000.
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Expired
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Additional Information
Print number: 118_S_2723
Sponsor: Sen. Brown, Sherrod [D-OH]
Process start date: 2023-09-05
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Modernizing Agricultural and Manufacturing Bonds Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_2723.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-09-05.

What are the main provisions?

Key points include:

  • The financing limit for small manufacturing facilities (including technology producers) triples from $10 million to $30 million.
  • First-time farmers can access more than double the financial support for land and equipment purchases, as the limit increases from $450,000 to $1,000,000.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Brown, Sherrod [D-OH].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Taxes Economy Agriculture