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Advance Refunding Bill Introduced in the Senate

GFOA Member News: February 25, 2021

On February 25, Senator Roger Wicker (R-MS) introduced legislation reinstating advance refunding to the tax code.  Senator Wicker has been a steadfast ally in support of bringing the provision back, citing the value the statute brings to local leaders as a financial management tool.

In July 2020, after introducing the LOCAL Act, Senator Wicker remarked, “Restoring advance refunding is a proven way to give our local leaders the ability to manage existing debts, reduce costs, and free up additional money for much-needed local infrastructure projects.”

Managing an investment portfolio in today’s volatile financial markets requires sophisticated financial tools.