LOCAL Infrastructure Act
Congress Moves to Restore Advance Refunding Bonds, Giving Local Governments a Tool to Refinance Debt
Stalled
No legislative action in over 90 days.
Legislative Progress
Key Points
- Congress would bring back a type of municipal bond that lets cities, counties, and states refinance old debt early.
- Supporters say this could help local governments lower borrowing costs and free up money for roads, bridges, water systems, and other public works.
- The change would apply starting on the day the bill becomes law, affecting future refinancing decisions.
- For residents, this could mean local leaders have another tool to manage debt and possibly reduce pressure for future tax or fee increases.
- The bill is mainly a finance and budgeting change, not a direct federal spending program, but it can shape how affordable local infrastructure projects are.
Impact Analysis
Govbase has not yet run an impact analysis on this legislation.
Milestones
Read twice and referred to the Committee on Finance.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Introduced in Senate
The bill was officially filed and given a number. It now enters the legislative queue.
Votes
No votes have been recorded for this legislation yet.
Related News
2 articles
Bipartisan senators intro tax-exempt advance refunding legislation
Covers introduction of the LOCAL Infrastructure Act of 2025 to restore tax-exempt advance refunding for municipal bonds, with quotes from sponsors and muni-market context.
Restore Advance Refunding: A Smart, Bipartisan Fix for Local Infrastructure
Advocacy piece urging support for H.R. 1255 and S. 1481 to reinstate tax-exempt advance refunding; explains local-budget impacts and infrastructure implications.
Source Information
Document Type
Congressional Bill
Official Title
LOCAL Infrastructure Act
Data Sources
Sponsor
Cosponsors
(13)Analysis generated by AI. Always verify with official sources.