I 
111TH CONGRESS 
1ST SESSION H. R. 4323 
To amend the Internal Revenue Code of 1986 to allow a credit against 
tax for certain costs relating to compliance with financial regulations. 
IN THE HOUSE OF REPRESENTATIVES 
DECEMBER 15, 2009 
Mr. SOUDER introduced the following bill; which was referred to the 
Committee on Ways and Means 
A BILL 
To amend the Internal Revenue Code of 1986 to allow a 
credit against tax for certain costs relating to compliance 
with financial regulations. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE. 
This Act may be cited as the ‘‘øTBD¿ Act of 2009’’. 
SEC. 2. CREDIT FOR FINANCIAL REGULATION COMPLI-
ANCE. 
(a) IN GENERAL.—Subpart D of part IV of sub-
chapter A of chapter 1 of the Internal Revenue Code of 
1986 is amended by adding at the end the following new 
section: 
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‘‘SEC. 45R. CREDIT FOR COMPLIANCE COSTS RELATING TO 
FINANCIAL REGULATION. 
‘‘(a) IN GENERAL.—For purposes of section 38, in 
the case of an eligible banking institution, the financial 
regulation compliance credit determined under this section 
for the taxable year is an amount equal to the financial 
regulation compliance expenditures of the taxpayer for the 
taxable year. 
‘‘(b) FINANCIAL
REGULATION
COMPLIANCE
EX-
PENDITURE.—For purposes of this section, the term ‘fi-
nancial regulation compliance expenditure’ means— 
‘‘(1) any State or Federal fees or assessments 
paid or incurred which are imposed by reason of the 
taxpayer’s status as an insured depository institu-
tion, and 
‘‘(2) any amounts paid or incurred by the tax-
payer in connection with complying with supervision 
or examination by a State or Federal authority hav-
ing supervision over insured depository institutions. 
‘‘(c) DEFINITIONS AND SPECIAL RULES.—For pur-
poses of this section— 
‘‘(1) ELIGIBLE
BANKING
INSTITUTION.—The 
term ‘eligible banking institution’ means, with re-
spect to a taxable year, an entity— 
‘‘(A) which is an insured depository insti-
tution, and 
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‘‘(B) the average adjusted bases of all as-
sets of which do not exceed $10,000,000,000. 
‘‘(2) INSURED DEPOSITORY INSTITUTION.—The 
term ‘insured depository institution’ shall have the 
meaning given such term by section 3(c)(2) of the 
Federal 
Deposit 
Insurance 
Act 
(12 
U.S.C. 
1813(c)(2)). 
‘‘(3) CONTROLLED GROUP.—All members of a 
controlled group of corporations (within the meaning 
of section 1563(a)(1)) shall be treated as 1 person. 
In determining the average adjusted bases of assets 
held by such group, interests held by one member of 
such group in another member of such group shall 
be disregarded. 
‘‘(4) DENIAL OF DOUBLE BENEFIT.—No deduc-
tion or other credit shall be allowed under this chap-
ter for any amount taken into account in deter-
mining the credit under this section.’’. 
(b) CREDIT MADE PART OF GENERAL BUSINESS 
CREDIT.—Subsection (b) of section 38 of such Code is 
amended by striking ‘‘and’’ at the end of paragraph (34), 
by striking the period at the end of paragraph (35) and 
inserting ‘‘, and’’, and by adding at the end the following 
new paragraph: 
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‘‘(36) the financial regulation compliance credit 
determined under section 45R(a).’’. 
(c) CLERICAL AMENDMENT.—The table of sections 
for subpart D of part IV of subchapter A of chapter 1 
of such Code is amended by adding at the end the fol-
lowing new item: 
‘‘Sec. 45R. Credit for compliance costs relating to financial regulation.’’. 
(d) EFFECTIVE DATE.—The amendments made by 
this section shall apply to amounts paid or incurred after 
the date of the enactment of this Act. 
Æ 
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