This bill amends Section 524.901 of the Iowa Code to allow state banks to invest without limitation in certain federal tax credits. Specifically, it introduces a new subsection that permits state banks to invest for their own account in federal tax credits authorized under 26 U.S.C. 45 and 26 U.S.C. 48.

The intent of the bill is to expand the investment opportunities available to state banks by enabling them to engage in the purchase of these federal tax credits, which could potentially enhance their financial portfolios and support economic growth. The bill does not include any deletions from current law.

Statutes affected:
Introduced: 524.901