A bill for an act relating to state banks’ purchase of certain federal tax credits.

HSB 312 allows Iowa state banks to purchase federal tax credits for clean energy projects without investment limits. Specifically, it permits state banks to invest freely in tax credits authorized under federal law (26 U.S.C. §45 and §48), which typically support renewable energy development. The bill directly affects Iowa state banks by expanding their investment options in these federal credits. This change removes previous restrictions on banks holding such credits for their own accounts.