Plain English Breakdown
The plain English breakdown is still being put together. The official documents below are already here.
HB3975 • 2025
Creates a corporate excise tax credit for each of the first three years that a bank does business in this state.
Creates a corporate excise tax credit for each of the first three years that a bank does business in this state.
Taxes
Passed Legislature
This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.
Bill History
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2025-06-27
House
In committee upon adjournment.
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2025-06-12
House
Public Hearing held.
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2025-05-21
House
Referred to Revenue.
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2025-05-20
House
First reading. Referred to Speaker's desk.
Official Summary Text
Digest: 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. Relating to: Relating to a tax credit for de novo banks; prescribing an effective date. Current location: In House Committee