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.

Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.

  • Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
  • Exclusive discounts on ALM and CU Times events.
  • Access to other award-winning ALM websites including Law.com and GlobeSt.com.
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.