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Committee amends and advances bill extending bank intangible-tax exemption to 62 months
3334913 · March 12, 2025
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Summary
Senate Finance amended and advanced a bill to extend the repayment-intangible tax exemption period to 62 months (rather than seven years), a change negotiated with banking and municipal stakeholders and approved by committee.
Representative Williamson asked the committee to move a bill that would adjust exemptions for the intangible tax applied to certain bank instruments. The item had been the subject of negotiation among banks, credit unions and municipal stakeholders; sponsors described a negotiated compromise to…
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