RECHARGE Act

Senate Bill

S. 2653

119th Congress

RECHARGE Act

In Committee

Introduced:Aug 1, 2025

Primary Sponsor

Jeff Merkley

Senator

Democratic

OR

Cosponsors

0

Quick Stats

Policy Area

Taxation

Summary

This bill aims to make it easier for small manufacturers and first-time farmers to get loans and financing. It expands the definition of 'manufacturing facility' to include facilities that create or produce intangible property, and it increases the maximum bond size limit from $10 million to $30 million. For first-time farmers, the bill raises the amount of bond proceeds they can use to buy land and removes a separate limit on used farm equipment.

Latest Action

Read twice and referred to the Committee on Finance.

SponsorJeff Merkley (D-OR)

Introduced8/1/2025

StatusRead twice and referred to the Committee on Environment and Public Works.

ChamberSenate

Data from Congress.gov

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Vote Prediction

RECHARGE Act

This bill aims to make it easier for small manufacturers and first-time farmers to get loans and financing. It expands the definition of 'manufacturing facility' to include facilities that create or produce intangible property, and it increases the maximum bon

Community Breakdown

Pass

0%

Fail

0%

0 predictions

This bill aims to make it easier for small manufacturers and first-time farmers to get loans and financing. It expands the definition of 'manufacturing facility' to include facilities that create or produce intangible property, and it increases the maximum bond size limit from $10 million to $30 million. For first-time farmers, the bill raises the amount of bond proceeds they can use to buy land and removes a separate limit on used farm equipment.

Bill Number: 2653
Sponsor: Jeff Merkley (D-OR)
Introduced: 8/1/2025
Status: Read twice and referred to the Committee on Environment and Public Works.
Policy Area: Taxation

Data from Congress.gov

AI-generated summary

Fact Sheet

Title: RECHARGE Act
Bill Number: 2653
Sponsor: Jeff Merkley (D-OR)
Status: Read twice and referred to the Committee on Environment and Public Works.
Introduced: 8/1/2025
Summary: This bill aims to make it easier for small manufacturers and first-time farmers to get loans and financing. It expands the definition of 'manufacturing facility' to include facilities that create or produce intangible property, and it increases the maximum bond size limit from $10 million to $30 mil

Data from Congress.gov

AI Summary

Plain-English explanation of this bill

This bill aims to make it easier for small manufacturers and first-time farmers to get loans and financing. It expands the definition of 'manufacturing facility' to include facilities that create or produce intangible property, and it increases the maximum bond size limit from $10 million to $30 million. For first-time farmers, the bill raises the amount of bond proceeds they can use to buy land and removes a separate limit on used farm equipment.

Last updated: 12/30/2025

Official Summary

Congressional Research Service summary

Modernizing Agricultural and Manufacturing Bonds Act This bill modifies provisions relating to qualified small issue bonds for manufacturing purposes by expanding the definition of manufacturing facility to include a facility that (1) is used in the creation or production of intangible property; or (2) is functionally related, subordinate to, and located on the same site as a facility used in the manufacturing or production of tangible or intangible personal property. The bill also increases from $10 million to $30 million the maximum bond size limitation. The bill modifies requirements for private activity bond financing for first-time farmers. The modified provisions (1) increase from $450,000 to $1 million (adjusted annually for inflation) the amount of bond proceeds that may be used by a first-time farmer to acquire land for farming purposes, (2) repeal the separate dollar limitation on the use of bond proceeds for used farm equipment, and (3) revise the definition of substantial farmland to determine farm size by reference to the average (instead of median) size of a farm in the county in which the farm is located.

Key Points

Main provisions of the bill

Expands the definition of 'manufacturing facility' to include facilities that produce intangible property like software or intellectual property
Increases the maximum bond size limit for small manufacturers from $10 million to $30 million
Raises the limit on bond proceeds first-time farmers can use to buy land from $450,000 to $1 million, and removes a separate limit on used farm equipment
Revises the definition of 'substantial farmland' to use the average farm size in a county rather than the median

How This Impacts Americans

Potential effects on citizens and communities

This bill would benefit small manufacturers and first-time farmers by making it easier for them to get financing and loans. Manufacturers of things like software or other intangible products would be eligible for these bonds, and the higher bond limits would allow more small firms to access this type of funding. For farmers, the higher land purchase limit and removal of the used equipment limit would make it more feasible for them to get started in farming.