Plain English summary not yet available
The full original text is available below. Check back soon as we process this bill.
II
118TH CONGRESS
1ST SESSION
S. 1453
To amend the Internal Revenue Code of 1986 to reinstate advance refunding
bonds.
IN THE SENATE OF THE UNITED STATES
MAY 4, 2023
Mr. WICKER (for himself, Ms. STABENOW, Mr. BRAUN, Mrs. BRITT, Mr. BAR-
RASSO, Mr. BOOZMAN, Ms. LUMMIS, Mrs. SHAHEEN, Mrs. FEINSTEIN,
Mr. VAN HOLLEN, Ms. SINEMA, Ms. KLOBUCHAR, Mr. BLUMENTHAL,
Ms. HASSAN, Ms. BALDWIN, Mr. MENENDEZ, and Mr. BENNET) intro-
duced the following bill; which was read twice and referred to the Com-
mittee on Finance
A BILL
To amend the Internal Revenue Code of 1986 to reinstate
advance refunding bonds.
Be it enacted by the Senate and House of Representa-
1
tives of the United States of America in Congress assembled,
2
SECTION 1. SHORT TITLE.
3
This Act may be cited as the ‘‘Lifting Our Commu-
4
nities through Advance Liquidity for Infrastructure Act’’
5
or the ‘‘LOCAL Infrastructure Act’’.
6
VerDate Sep 11 2014
03:19 May 13, 2023
Jkt 039200
PO 00000
Frm 00001
Fmt 6652
Sfmt 6201
E:\BILLS\S1453.IS
S1453
pbinns on DSKJLVW7X2PROD with $$_JOB
2
•S 1453 IS
SEC. 2. REINSTATEMENT OF ADVANCE REFUNDING BONDS.
1
(a) IN GENERAL.—The amendments made by section
2
13532 of Public Law 115–97 are repealed and the provi-
3
sions of law amended by such section are restored as if
4
such section had never been enacted.
5
(b) EFFECTIVE DATE.—The repeal made by this sec-
6
tion shall take effect on the date of enactment of this Act.
7
Æ
VerDate Sep 11 2014
03:19 May 13, 2023
Jkt 039200
PO 00000
Frm 00002
Fmt 6652
Sfmt 6301
E:\BILLS\S1453.IS
S1453
pbinns on DSKJLVW7X2PROD with $$_JOB