SIFMA commended the bipartisan introduction of the Lifting Our Communities through Advance Liquidity for Infrastructure (LOCAL Infrastructure) Act, which, if passed, would reinstate the advance refunding of municipal bonds. (See here for summary.) In a statement, SIFMA described the Act as a "critical tool" for local and state governments in reducing the costs of interest to facilitate the financing of critical infrastructure (i.e., schools, roads and hospitals). SIFMA stated that "this legislation is particularly welcome now, when state and local governments are facing unprecedented expenses due to the COVID-19 pandemic."
Commentary Steven Lofchie
As acronyms go, this is pretty good. Honors in that regard still go, and it's not close, to the ILLICIT CASH Act.
Originally published July 06, 2020.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.