HB3975: Relating to a tax credit for de novo banks; prescribing an effective date.

Legislative Summary

The Act makes a new tax credit for new banks. (Flesch Readability Score: 100.0). Creates a corporate excise tax credit for each of the first three years that a bank does business in this state. Applies to banks that commence business in tax years beginning on or after January 1, 2026, and before January 1, 2032. Takes effect on the 91st day following adjournment sine die.