OR HB3975

Creates a corporate excise tax credit for newly chartered Oregon banks ("de novo banks") for each of their first three years of business, with the credit equal to the bank's tax liability up to $1 million per year

Defines eligible de novo banks as Oregon-chartered depository institutions that commenced business within the current or two preceding tax years, excluding banks formed through mergers or conversions of existing taxpayers

Requires banks to obtain a charter and certificate of authority from the Oregon Department of Consumer and Business Services before claiming the credit

Allows unused credit amounts to be carried forward for up to three succeeding tax years

Applies to banks commencing business between January 1, 2026, and January 1, 2032; takes effect 91 days after the 2025 legislative session adjourns