De Novo Bank Tax Credit RAC

The Department of Consumer and Business Services (DCBS) shall adopt rules, including policies and procedures for verifying taxpayer eligibility for the credit allowed under HB 4052 (2026). DCBS shall provide information to the Department of Revenue about all taxpayers that are eligible for a tax credit under HB 4052, if required by ORS 315.058. This rulemaking creates a corporate excise tax credit for each of the first three years that a bank does business in this state. Applies only to Oregon-chartered banks that commence business in tax years beginning on or after January 1, 2027, and before January 1, 2033.