Investing in Our Communities Act
In committee: it can still change before the session ends.
- Stage
- In committee
- Started in
- House
- Sponsors
- 8
- Latest action
- Feb 12, 2025
What it does
The Investing in Our Communities Act would amend the Internal Revenue Code to reinstate the use of advance refunding bonds, allowing state and local governments to refinance existing debt under specific conditions. The bill affects issuers of municipal bonds by setting rules for when advance refunding is permitted, including limits on the number of refundings, redemption timing, and restrictions on arbitrage profits. It prohibits abusive transactions designed to gain financial advantage through arbitrage beyond interest rate savings and includes conforming changes to related tax provisions, with the amendments applying to bonds issued after the bill’s enactment.
AI summary · The lawmakers haven’t published an official summary of this bill yet, so 52 wrote this one from the bill’s text.
Where it stands
Introduced (Done)
Committee (Current step)
Floor (Not started)
Law (Not started)
What moved
Who is involved
Sponsors
The lawmakers who put their names on it, lead sponsors first.
In the news
Reporting that may mention this subject. Possible matches are labeled.
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Where it goes next
While a bill can still move, the questions are about people and money.