LOCAL Infrastructure Act
Sponsored By: Senator Roger Wicker
Introduced
Summary
Restores advance refunding bonds to federal tax law. This bill would repeal Section 13532 of Public Law 115-97 and put the rules for advance refunding bonds back the way they were before that amendment. The repeal would take effect on the date of enactment. No new programs, funding, eligibility changes, or extra restrictions are created. The sole outcome is to reinstate the prior-law status of advance refunding bonds.
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Bill Overview
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Restore advance refunding for municipal bonds
This bill would repeal the changes made by section 13532 of Public Law 115-97 and restore the prior federal tax rules for advance refunding municipal bonds. If enacted, state and local governments could use advance refunding bonds again. Investors could see different tax treatment for interest on those bonds. The repeal would take effect on the date of enactment of the Act.
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Sponsors & CoSponsors
Sponsor
Roger Wicker
MS • R
Cosponsors
Sen. Bennet, Michael F. [D-CO]
CO • D
Sponsored 4/10/2025
Katie Britt
AL • R
Sponsored 4/10/2025
Cindy Hyde-Smith
MS • R
Sponsored 4/10/2025
John Boozman
AR • R
Sponsored 4/10/2025
Sen. Barrasso, John [R-WY]
WY • R
Sponsored 4/10/2025
Raphael Warnock
GA • D
Sponsored 4/10/2025
Sen. Warner, Mark R. [D-VA]
VA • D
Sponsored 4/10/2025
Shelley Capito
WV • R
Sponsored 4/28/2025
Peter Welch
VT • D
Sponsored 6/17/2025
Sen. Baldwin, Tammy [D-WI]
WI • D
Sponsored 6/17/2025
Richard Blumenthal
CT • D
Sponsored 6/17/2025
Amy Klobuchar
MN • D
Sponsored 6/17/2025
Chris Van Hollen
MD • D
Sponsored 6/17/2025
Roll Call Votes
No roll call votes available for this bill.
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