Bill introduced to restore advanced refunding of municipal bonds

U.S. House Representatives Dutch Ruppersberger (D-Md.) and Steve Stivers (R-Ohio) — co-chairs of the bipartisan House Municipal Finance Caucus — introduced The Investing in Our Communities Act (H.R. 2772) in May, which would amend the federal tax code to reinstate the option for a single advance refunding of municipal bonds.

NACWA joined a coalition of municipal government associations in supporting the bill and sent an Association letter of support to Congress outlining how this legislation could reduce clean water financing costs, free up more dollars for infrastructure investment, and help address affordability concerns at the local level.