Congress Urged To Preserve Use Of Water PABs In Final Tax Reform Bill

Municipalities, water utilities, and infrastructure financing agencies are pressing lawmakers crafting a final tax reform bill to ensure it preserves the use of private activity bonds (PABs) and to ease the implementation of the repeal of another financing mechanism -- advance refunding -- used by many municipal bond issuers. “[W]e write to express our deep concerns about the proposed federal income tax treatment of private activity bonds (PABs) and advance refunding bonds that are contained in the House and Senate...