This bill, known as the Municipal Investment and Neighborhood Transformation Act (MINT Act), aims to restore and make permanent the tax-exempt status of state and local bonds guaranteed by a Federal Home Loan Bank. It amends the Internal Revenue Code to ensure these bonds are not treated as federally guaranteed, thereby preserving their tax benefits and facilitating lower-cost financing for municipal projects. A key provision removes a prior expiration date for this treatment, making it permanent for future bond issuances. Additionally, the bill updates the criteria for safety and soundness requirements related to these guarantees, stipulating they will be established by the Director of the Federal Housing Finance Agency (FHFA) from time to time. These amendments apply to guarantees made after the bill's enactment.