# 119-hr-1255: Investing in Our Communities Act

119-hr-1255, Investing in Our Communities Act, is a 119th Congress bill sponsored by Rep. Kustoff, David [R-TN-8] (R-TN); status introduced; PRIA reads it as touching household money (as of 2026-09-21).

- Canonical: https://policyrisk.com/legislation/119-hr-1255
- As of: 2026-09-21
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-hr-1255
- Congress: 119
- Title: Investing in Our Communities Act
- Status: introduced
- Introduced: 2025-02-12
- Sponsor: Rep. Kustoff, David [R-TN-8] (R-TN)
- Cosponsors: 7
- Policy area: Taxation
- Touches household money: yes
- Last recorded action: 2026-09-21

## Summary

**Redefines when a bond is treated as an advance refunding and narrows how refundings can be structured.** This bill would create new categories that catch certain private activity refundings and set tighter timing, investment, and redemption rules to limit complex refunding deals that chase extra financial gains.

## Cosponsors (7)

- Rep. Yakym, Rudy [R-IN-2] (R-IN), 2025-02-12T00:00:00.000Z
- Rep. Moore, Gwen [D-WI-4] (D-WI), 2025-02-12T00:00:00.000Z
- Rep. Panetta, Jimmy [D-CA-19] (D-CA), 2025-02-12T00:00:00.000Z
- Rep. Fitzpatrick, Brian K. [R-PA-1] (R-PA), 2025-09-02T00:00:00.000Z
- Rep. Chu, Judy [D-CA-28] (D-CA), 2025-09-02T00:00:00.000Z
- Rep. Luna, Anna Paulina [R-FL-13] (R-FL), 2026-03-03T00:00:00.000Z
- Rep. Johnson, Julie [D-TX-32] (D-TX), 2026-05-12T00:00:00.000Z

## Provisions PRIA read

- New rules for advance refunding bonds: mixed, low. If enacted, the bill would reset which advance refundings count under tax rules. An issue would be described if it refunds certain private‑activity bonds, but not 501(c)(3) bonds. A bond could be advance‑refunded only once if issued after 1985, or up to twice if issued before 1986. Redemption would…
- Tighter limits on refunding bond investments: mixed, low. If enacted, issuers would face stricter anti‑arbitrage rules on refundings. They could not use devices to gain extra profit beyond lower interest rates. Refunded‑bond proceeds in higher‑yield, non‑purpose investments would be capped at the smaller of 5% of proceeds or $100,000, for the share tied t…

## Related bills

- 119-hr-9877: Health Equity and Accountability Act of 2026
- 119-hr-4669: FEMA Act of 2025
- 119-hr-4206: CONNECT for Health Act of 2025
- 119-hr-3151: SHIPS for America Act of 2025
- 119-hr-1262: Mikaela Naylon Give Kids a Chance Act
- 119-hr-842: Nancy Gardner Sewell Medicare Multi-Cancer Early Detection Screening Coverage Act

## Sources
- [119-hr-1255 on Congress.gov](https://www.congress.gov/bill/119th-congress/house-bill/1255)

## Related
- [119-hr-9877: Health Equity and Accountability Act of 2026](https://policyrisk.com/legislation/119-hr-9877)
- [119-hr-4669: FEMA Act of 2025](https://policyrisk.com/legislation/119-hr-4669)
- [119-hr-4206: CONNECT for Health Act of 2025](https://policyrisk.com/legislation/119-hr-4206)
- [119-hr-3151: SHIPS for America Act of 2025](https://policyrisk.com/legislation/119-hr-3151)
- [119-hr-1262: Mikaela Naylon Give Kids a Chance Act](https://policyrisk.com/legislation/119-hr-1262)
- [119-hr-842: Nancy Gardner Sewell Medicare Multi-Cancer Early Detection Screening Coverage A…](https://policyrisk.com/legislation/119-hr-842)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-hr-1255 (as of 2026-09-21).