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House Finance Committee unanimously approves bill to reduce mutual thrift institutions tax and expand NOL carryovers
Summary
House Bill 788, which aligns the mutual thrift institutions tax reduction schedule with the corporate net income tax and extends net-operating-loss carryovers from three to six years, passed the Finance Committee unanimously after an amendment accelerated the schedule and extended NOL carryovers.
The House Finance Committee unanimously approved House Bill 788 as amended, a bipartisan measure to reduce the mutual thrift institutions tax and extend net operating loss (NOL) carryover rules for mutual thrift banks.
Representative Mursky, a co-prime sponsor, said the bill would bring the mutual thrift institutions tax…
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