WASHINGTON — Rep. Mike Coffman, R- Colo., has introduced legislation that would allow governmental and 501(c)(3) nonprofit bonds to be refunded a second time so that issuers and borrowers could save money by taking advantage of low interest rates.

Under current law, governmental and 501(c)(3) bonds can only be advance refunded one time. Private activity bonds subject to the alternative minimum tax cannot be advance refunded at all.

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