House Ways and Means Announces Legislation to Reinstate Advance Refundings

BDA Continues Supporting Senate Efforts

Today, the House Committee on Ways and Means announced pending legislation titled, the Moving Forward Act, the tax title for the broader House Surface Transportation Reauthorization. The legislation would fully, and permanently reinstate Advance Refundings, allow for expanded usage of Private Activity Bonds, raise the BQ Debt limit, and create a new Build America Bonds program untethered to sequestration.

**The BDA continues to work with our partners in the House on these provisions, and expects the legislative text to be released next week, followed shortly by Committee activity to consider amendments for the bill.

The fact sheet can be viewed here

>While the package will likely pass the House with little issue, the transportation package is viewed as highly partisan in the Senate, and will face a tough road for passage in 2020.

Senate Working on Advance Refundings Legislation

The BDA continues to support Senator Roger Wicker’s(R-MS) efforts in the Senate for introduction of a stand alone bill to reinstate Advance Refundings.

The text can be viewed here 

While timing of the  release of the package is uncertain, the BDA along with the broader Public Finance Network continues to work to find co-sponsors in the Senate Finance Committee for introduction.

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