One More Advance Refunding?

Duff, Susanna
May 2003
Bond Buyer;5/8/2003, Vol. 344 Issue 31631, p1
Trade Publication
The Washington Senator Gordon Smith is expected to try to amend the Senate Finance Committee's tax-cut package on May 8, 2003 to allow state and local governments to do one additional advance refunding within 2005. Under the law, issuers of governmental and 501(c)(3)tax-exempt bonds are allowed to advance refund their bonds only once. Democrats plan to offer an amendment that would provide 30 billion dollars to states, said Laura Hayes, spokeswoman for Senator Max Baucus of Montana, the top Democrat on the panel.


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