S. 3254 would amend the Internal Revenue Code of 1986 to allow banks to be taxed as limited liability companies.

== Detailed Summary ==

<summary>
(Log in to editAmends the wiki and be the firstInternal Revenue Code to provideallow a detailed summarystate-chartered banking entity to elect to be treated as a partnership or separate entity for tax purposes if it is organized as a limited liability company under state law and has Federal Deposit Insurance Corporation (FDIC) insurance. Exempts such an entity from treatment as a bank under the Internal Revenue Code for purposes of its bad debts, losses, gains from the bill!)sale of its securities, and the taxation of its common trust funds.
</summary>

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== Status of the Legislation ==

<status>
(Log inLatest Major Action: 7/11/2008: Referred to edit the wikiSenate committee. Status: Read twice and be the firstreferred to update the status of the bill!)Committee on Finance.
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== Points in Favor ==

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== Points Against ==

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