[Congressional Bills 117th Congress]
[From the U.S. Government Publishing Office]
[S. 479 Introduced in Senate (IS)]

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117th CONGRESS
  1st Session
                                 S. 479

    To amend the Internal Revenue Code of 1986 to reinstate advance 
                            refunding bonds.


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                   IN THE SENATE OF THE UNITED STATES

                           February 25, 2021

 Mr. Wicker (for himself, Ms. Stabenow, Mr. Barrasso, Mr. Bennet, Mr. 
    Inhofe, Ms. Baldwin, Mrs. Capito, Mr. Menendez, Mr. Moran, Mrs. 
Shaheen, Ms. Murkowski, Mr. Van Hollen, Mrs. Fischer, Mr. Boozman, and 
  Ms. Rosen) introduced the following bill; which was read twice and 
                  referred to the Committee on Finance

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                                 A BILL


 
    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115-97 are repealed and the provisions of law amended by such section 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.
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