LaHood Reintroduces Bill to Expand Manufacturing and Farm Financing

WASHINGTON D.C. — U.S. Rep. Darin LaHood and a bipartisan group of lawmakers have reintroduced the Modernizing Agricultural and Manufacturing Bonds Act, legislation intended to expand financing opportunities for small and medium sized manufacturers and farmers. Supporters say the bill would help businesses grow, create jobs and strengthen local economies by updating federal rules for tax exempt manufacturing and agricultural bonds. The measure would increase the maximum manufacturing bond size from $10 million to $30 million, expand eligibility for modern manufacturing facilities and raise the amount available to first time farmers from $450,000 to $1 million. The legislation would also allow bond funds to be used for additional facility improvements and farm equipment purchases.