REPEAL OF ADVANCE REFUNDING BONDS.

SEC. 13532. REPEAL OF ADVANCE REFUNDING BONDS.(a) In General.—Paragraph (1) of section 149(d) is amended by striking “as part of an issue described in paragraph (2), (3), or (4).” and inserting “to advance refund another bond.”.(b) Conforming Amendments.—(1) Section 149(d) is amended by striking paragraphs (2), (3), (4), and (6) and by redesignating paragraphs (5) and (7) as paragraphs (2) and (3).(2) Section 148(f)(4)(C) is amended by striking clause (xiv) and by redesignating clauses (xv) to (xvii) as clauses (xiv) to (xvi).(c) Effective Date.—The amendments made by this section shall apply to advance refunding bonds issued after December 31, 2017.