Senate bill triples borrowing limits for small manufacturers and first-time farmers
In committeeS. 2100Latest action
Sponsor: Joni Ernst · Senator · IA
AIDecoded by AI · checked against the recordRead the official text
Official title: Modernizing Agricultural and Manufacturing Bonds Act
119th Congress
Topics: Jobs & the economy
Introduced:
Read the official bill on Congress.govIn plain words
The plain-language version comes first. The official text is always the reference.
S 2100 raises tax-exempt bond caps for small manufacturers from $10M to $30M per project and for first-time farmers from $450K to $1M.
55-second read · 4 questions answered below
What does this do?
S 2100 raises the borrowing limits on two types of tax-exempt government bonds: small issue manufacturing bonds and first-time farmer bonds. For manufacturers, the per-project cap rises from $10 million to $30 million, and the per-company total rises from $40 million to $120 million, with both figures indexed to inflation going forward. For first-time farmers, the cap rises from $450,000 to $1 million, the separate limit on used farm equipment is removed, and the measure of qualifying farmland shifts from median to average county farm size.
Who does it affect?
Small and mid-sized manufacturers seeking to finance facility expansions or new production are directly affected, as are people buying a farm for the first time. State and local governments that issue and administer these bonds are also affected.
Why does it matter?
Raising the caps and indexing them to inflation means more projects and purchases could qualify for lower-cost government-backed financing over time. Shifting the farmland measure from median to average county size could make more land eligible for the first-time farmer program.
AI-drafted summary. Check it against the official text before you act on it.
Read the official bill on Congress.govMake the call
Where does it stand?
- IntroducedJun 17, 2025
- Senate committeeYou are here · Jan 14, 2026
- Senate vote
- House
- The president's desk
Right now: a Senate committee is reviewing it. If the House changes it, it goes back to the Senate before reaching the president.
Latest action: — Committee on Small Business and Entrepreneurship. Hearings held.