repeal income modifications for the bank franchise tax pertaining to bad debts.

Summary

The bill removes provisions that let financial institutions add back or subtract bad‑debt related amounts when calculating South Dakota’s bank franchise tax. It applies to banks, credit unions and similar institutions that file the franchise tax, potentially increasing their taxable income. The change aims to simplify the tax base by eliminating these specific income modifications.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

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