Senate Study Bill 1215 - Introduced SENATE FILE _____ BY (PROPOSED COMMITTEE ON WAYS AND MEANS BILL BY CHAIRPERSON DAWSON) A BILL FOR An Act relating to state banks purchase of certain federal tax 1 credits. 2 BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF IOWA: 3 TLSB 2940XC (1) 91 nls/ko
S.F. _____ Section 1. Section 524.901, Code 2025, is amended by adding 1 the following new subsection: 2 NEW SUBSECTION . 12. A state bank may invest without 3 limitation for its own account in federal tax credits 4 authorized pursuant to 26 U.S.C. 45 and 26 U.S.C. 48. 5 EXPLANATION 6 The inclusion of this explanation does not constitute agreement with 7 the explanations substance by the members of the general assembly. 8 This bill relates to state banks purchase of federal tax 9 credits. Under the bill, a state bank may invest without 10 limitation for its own account in federal tax credits 11 authorized pursuant to 26 U.S.C. 45 and 26 U.S.C. 48. 12 -1- LSB 2940XC (1) 91 nls/ko 1/ 1