banking, legal|

Earlier this year, the Office of the Comptroller of the Currency adopted a final rule that allows national banks to engage in certain tax equity finance transactions that are deemed functionally equivalent to a loan. The rule took effect on April 1, 2021.

Pursuant to the powers the legislature granted to the Bank Commissioner under K.S.A. 9-1715, I have deemed it necessary to issue a Special Order to preserve the competitive equality between Kansas state-chartered banks and national banks operating in Kansas. As of August 2, 2021, Special Order 2021-1 will permit a Kansas state-chartered bank to engage in tax equity finance transactions that would be permissible for a national bank under the federal rule as enacted on April 1, 2021. The authority permitted by this new Special Order is separate from, and does not limit, other investment authorities available to Kansas state-chartered banks.

You can view the special order on our website at the following link:

Comments are closed.

Close Search Window