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Updated Montana CU Act Survives Tax Debate

HELENA, Mont. - Montana House Bill 319, introduced by state Rep. Dee Brown (R-Hungry Horse) to clarify, supplement and update the Montana credit union act passed the state House by a 92 to 3 vote despite an objection to the credit union tax-exempt status. In a floor debate, Brown recognized...

By Staff Writer | Updated on February 18, 2003

HELENA, Mont. – Montana House Bill 319, introduced by state Rep. Dee Brown (R-Hungry Horse) to clarify, supplement and update the Montana credit union act passed the state House by a 92 to 3 vote despite an objection to the credit union tax-exempt status. In a floor debate, Brown recognized that credit unions have “a different tax structure,” but she objected to out-of-state credit unions doing business in Montana and not paying income taxes. Among the provisions of the 40-section bill was one that would provide for out-of-state credit unions operating branches in Montana.

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