To amend the Internal Revenue Code of 1986 to allow a credit against tax for certain costs relating to compliance with financial regulations.
Referred to the House Committee on Ways and Means.
Congressional Research Service
Official summary
Version 00 · Introduced in House · Dec 15, 2009
Amends the Internal Revenue Code to allow insured depository banks with assets not exceeding $10 billion a general business tax credit for their financial regulation compliance expenditures. Defines "financial regulation compliance expenditures" as any state or federal fees or assessments imposed on insured depository institutions and any amounts paid by such institutions to comply with supervision or examination by state or federal bank regulators.
No related bills are listed in this snapshot. This does not establish whether the proposal has appeared in earlier Congresses.
Source last updated: Jan 2, 2025. Consult Congress.gov for the current record.
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