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Committee advances HB 4052 A, a temporary tax credit for newly chartered Oregon banks, to the House floor
Summary
HB 4052 A would provide a corporate income tax credit to new Oregon‑chartered banks (de novo banks) for their first three years, capped at $1 million annually per eligible bank; LRO said no currently known eligible banks and the revenue impact is minimal. The committee moved the bill to the floor with a due‑pass recommendation.
LRO staff summarized HB 4052 A as a narrowly tailored corporate income tax credit for newly chartered Oregon banks during their first three years of operation (de novo banks). The credit equals the bank's corporate tax liability before applying the credit, capped at $1,000,000 per eligible year and available for tax years 2027–2032.
Legislative Revenue Office staff told the committee they were not aware of any banks currently seeking an Oregon charter that would be eligible, and therefore LRO could not provide a firm numerical revenue impact in committee. Representative Walters and Representative Smith spoke in favor of advancing the bill; Vice Chair Walters moved the bill to the floor with a due‑pass recommendation, and the motion passed.
The committee did not record a roll‑call tally in the minutes for the motion to advance HB 4052 A.
