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 permits investments in tax credits authorized under 26 U.S.C. 45 and 26 U.S.C. 48, which relate to renewable energy and other specified federal tax incentives.

The new provision aims to enhance the investment capabilities of state banks by removing previous restrictions on the purchase of these federal tax credits. This change is intended to encourage state banks to engage more actively in investments that could benefit both the banks and the broader economy through the promotion of renewable energy and related initiatives.

Statutes affected:
Introduced: 524.901