SALEM, Ore. – The four-member team of Oregon credit union lobbyists who testified May 2 in front of the state House of Representatives on a bill introduced by the Oregon Bankers Association to impose a corporate excise tax on CUs with more than $100 million in assets, made it clear to legislators that the bill should not be combined with another pending bill to allow CUs to accept public funds deposits. The hearing was originally intended for the CU-tax bill, H.B. 3491, but some testimony on Senate Bill 331 to allow credit unions to accept deposits from public entities, carried over from that bill’s hearing on April 31. “SB 331 and HB 3491 are not companion bills,” said Pamela Leavitt, CUAO’s SVP of governmental affairs and public relations. “They are not even friends.” CUAO said Chairperson Rep. Betsy Close plans to hold a work session on both bills at a later date. A decision on the bills is expected this week.
New data suggests developers continue to struggle to build affordable properties amid rising costs for materials and labor.
This is part three of CU Times' request of CUNA and NAFCU to answer the same questions concerning a housing bill's impact on CUs. Both groups have differing views.
Republicans say the Financial Services Committee’s hearing on marijuana-related banking raises many unanswered questions.
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