This bill amends Section 524.901 of the Iowa Code to allow state banks to invest without limitation for their own account in federal tax credits authorized under 26 U.S.C. 45 and 26 U.S.C. 48. The new provision aims to expand the investment opportunities available to state banks by permitting them to engage in the purchase of these specific federal tax credits.

The bill introduces a new subsection that explicitly states this investment capability, thereby enhancing the financial flexibility of state banks in Iowa. This change is intended to encourage state banks to take advantage of federal tax incentives, potentially benefiting both the banks and the broader economy.

Statutes affected:
Introduced: 524.901