Restoring Advance Refunding of Tax-Exempt Bonds
In the decade before Congress eliminated tax-exempt advance refunding in 2017, cities nationwide saved more than $18 billion by refinancing bonds at lower interest rates, much like homeowners refinancing a mortgage. Those savings were reinvested into roads, bridges, water systems, and other essential projects, helping communities grow and taxpayers save.
Without this proven tool, Georgia cities now pay more to borrow, leaving fewer resources for housing, broadband, infrastructure, and other local priorities.
Federal legislation to restore this authority, H.R. 1255 / S. 1481, has strong bipartisan support. Passing it would give local leaders the flexibility to refinance debt when interest rates drop, saving taxpayer dollars and strengthening investment in essential services.
The National League of Cities has set up a portal to allow city officials to urge Congress to reinstate this tool.
During the August recess, share your city’s support for this legislation with your Senators and Representatives. Urge them to co-sponsor and pass this bill so Georgia cities can govern responsibly and invest wisely.
Call to Share Transportation Priorities Before August 20
The U.S. Department of Transportation (USDOT) has an open Request for Information on Transportation Reauthorization to solicit input from all local governments that's open until next Wednesday, Aug. 20. NLC has provided a template response for any local government to leverage to quickly edit and respond before the deadline.