NABLNET Alternatives to Tax-Exempt Advance Refunding Bonds

The tax reform bill recently passed by Congress prohibits the issuance of tax-exempt advance refunding bonds after December 31, 2017. The NABL General Law and Practice Committee has produced a paper that briefly (1) describes known alternatives to tax-exempt advance refunding bonds and (2) identifies issues for consideration when structuring new transactions in light of the advance refunding ban. Of course, the viability of any of these approaches will depend on factors including market interest rates, demand for bonds, federal tax issues, and state law considerations.