On September 25, U.S. Representative Mike Coffman (R-Colorado) introduced House Resolution 6560, the Local Schools and Infrastructure Improvement Act of 2012, to give school districts, nonprofits and other local governments the ability to refinance their bonds for a second time using tax-exempt financing, according to a press release from Coffman’s office. Current law allows local governments, nonprofits and school districts to “refinance their debt only once using tax exempt financing.” Allowing these entities to take advantage of “record low interest rates” would lower debt service payments, the savings from which they could use to “help relieve pressure on their already tight budgets,” the release said. For more, read the press release.
Legislation would let schools, nonprofits and local governments refinance bonds under tax-exempt financing for a second time
