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.”