House Bill to Reinstate Tax-Exempt Advance Refundings Introduced

BDA and MBFA Continue to Advocate for Inclusion in Infrastructure Package

Today, Municipal Finance Caucus Co-Chairs Reps. Dutch Ruppersberger (D-MA) and Steve Stivers (R-OH) reintroduced legislation that would reinstate tax-exempt advance refundings.  This follows the recent introduction of a companion bill in the Senate by Roger Wicker (R-MS) and Debbie As a long-standing priority for the BDA and a top priority for the MBFA, the introduction signals a turn to infrastructure and public works in both Chambers of Congress and sets the foundation for municipal bonds to play a major role in the future package.

The press release can be viewed here.

BDA and MBFA Continue to Promote Muni Priorities
Last week, the BDA Board hosted House Ways and Means Chairman Richard Neal (D-MA) to discuss the Committee agenda for bonds and timing for passage and the MBFA Steering Committee hosted the legislative staff of Senator Roger Wicker (R-MS) to discuss this piece of legislation among other municipal bond market priorities such as:

These include:

  • Restoration of tax-exempt advance refundings;
  • Expansion of PABs including for ESG uses;
  • Raising the BQ debt limit; and
  • Creation of direct-pay bonds exempt from sequestration.

The BDA will continue to provide updates as they become available.

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