Lets local governments save money on infrastructure projects by refinancing old debt.
This bill would bring back a tool called "advance refunding bonds" for state and local governments. This means cities, counties, and states could refinance their older, higher-interest debt with new bonds at lower rates. This could save taxpayers money and free up funds for local projects like roads, schools, and water systems.
Currently, state and local governments cannot refinance their existing debt with new bonds. This is true if the new bonds are issued more than 90 days before the old ones can be paid off. This bill would change that, allowing them to issue these "advance refunding bonds" again. This means they could take advantage of lower interest rates sooner to save money on their projects.
S 1481 · 119th Congress · AI Summary by gemini-2.5-flash · 10/10
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8 filings mentioned this bill
Amounts reflect total quarterly lobbying spend reported to the Senate, not bill-specific spending. Source: Senate LDA filings.