Modernizing Agricultural and Manufacturing Bonds Act

This bill increases tax-exempt bond limits for agricultural and manufacturing projects. It raises the $10 million cap for manufacturing facility bonds to $30 million (adjusted annually for inflation) and expands eligible facilities to include those producing intangible goods like software. For first-time farmers, it doubles the bond limit from $450,000 to $1 million and changes farm size calculations from median to average. These changes apply to bonds issued after the bill's effective date, directly affecting manufacturers and new farmers seeking tax-advantaged financing.