Reinvest in Public Schools Act of 2026

This bill modifies tax rules for public school bonds to make certain financing more accessible. It allows school districts to issue bonds for building, repairing, or acquiring school facilities (with 100% of funds used for these purposes) and treat them as tax-exempt, reverting to the pre-December 2017 tax treatment. The key provision reopens a prior tax rule that had expired, enabling districts to use advance refunding bonds for school construction without triggering tax penalties. It directly affects public school districts seeking to finance physical school infrastructure through bond financing. The change applies to bonds issued after the bill's enactment date.