JTC Wants to Kill Advance Refundings

Ferris, Craig T.
January 2005
Bond Buyer;1/28/2005, Vol. 351 Issue 32059, p1
Trade Publication
The article reports on the proposals regarding advance refunding of tax-exempt governmental and 501(c)(3) bonds, which would be eliminated. It would facilitate the use of tax-exempt bonds to finance professional sports stadiums, under 70 options proposed in a study of ways to close the estimated $311 billion gap between the amount of taxes owed and paid that was released yesterday by the congressional Joint Tax Committee. The two proposals were among eight tax-exempt bond curbs recommended in the 430-page study that was requested almost a year ago by Senate Finance Committee chairman Charles Grassley, R-Iowa, and the top Democrat on the panel.


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