Reinstating Advance Refunding Bonds: Cheaper Local Infrastructure Financing.
This law restores the ability of state and local governments to refinance municipal bonds early. This means local authorities can reduce debt service costs for infrastructure projects like roads, schools, or hospitals by taking advantage of lower interest rates. These savings can be redirected to other public services or help maintain stable local taxes.
Key points
Local authorities regain a tool to lower debt costs for infrastructure projects (e.g., roads, water systems).
Savings from cheaper refinancing can support local budgets and potentially reduce pressure to raise taxes.
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