April 10, 2025
Mr. Wicker (for himself, Mr. Bennet, Mrs. Britt, Mrs. Hyde-Smith, Mr. Boozman, Mr. Barrasso, Mr. Warnock, and Mr. Warner) introduced the following bill; which was read twice and referred to the Committee on Finance
To amend the Internal Revenue Code of 1986 to reinstate advance refunding bonds.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
Section 1. Short title
This Act may be cited as the Lifting Our Communities through Advance Liquidity for Infrastructure Act
or the LOCAL Infrastructure Act
.
Sec. 2. Reinstatement of advance refunding bonds
(a) In general
The amendments made by section 13532 of Public Law 115–97 are repealed and the provisions of law amended by such section are restored as if such section had never been enacted.
(b) Effective date
The repeal made by this section shall take effect on the date of enactment of this Act.