DE HB414

Extends the sunset date of the bank franchise tax credit from January 1, 2022 to January 1, 2032, maintaining a 10-year credit period for banks that create 200 or more new jobs.

Maintains the $1,250 per-employee tax credit for banking organizations and trust companies that hire at least 200 new qualified employees above their base year employment level.

Implements a rolling base year mechanism beginning January 1, 2022, where the base year increases by one calendar year annually until reaching the period from December 31, 2020 to January 1, 2022.

Applies to taxable years beginning after December 31, 2011 and ending before January 1, 2032.