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Bill would exempt certain community‑bank loan income from state tax to improve competitiveness
3111689 · April 24, 2025
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Summary
Senate File 3364 would exempt income derived from commercial and agricultural loans of $5 million or less from state income tax for certain institutions, a change advocates say would help community banks compete with tax-exempt lenders. Community bankers testified in support and the committee laid the bill over.
Senate File 3364, presented April 24, 2025 by Senator Putnam, would exempt income from commercial and agricultural loans of $5,000,000 or less from state income tax for qualifying financial institutions. Supporters said the change would help community banks…
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