This bill amends Section 524.901 of the Iowa Code to allow state banks to invest without limitation in federal tax credits authorized under 26 U.S.C. 45 and 26 U.S.C. 48. The new provision enables state banks to purchase these tax credits for their own accounts, thereby expanding their investment options.

The bill does not include any deletions from current law but introduces a new subsection that specifically addresses the investment capabilities of state banks regarding federal tax credits. This change aims to enhance the financial flexibility of state banks in Iowa.

Statutes affected:
Introduced: 524.901