BEAVERTON, Ore. – A bill allowing credit unions to accept deposits from a variety of public entities is on its way to the House floor for a vote. S.B. 331 passed out of the House Business, Labor & Consumer Affairs Committee with a five to one vote. A subsequent referral for the measure to move to the House Revenue Committee was rescinded. The bill already passed the state Senate. The House committee did not move on a separate bill introduced by the Oregon Bankers Association to impose a 6.6% corporate excise tax on CUs with more than $100 million in assets. The bankers attempted unsuccessfully to combine that bill with the public funds measure. Pamela Leavitt, svp, governmental affairs & public relations for the Credit Union Association of Oregon said CUAO remains optimistic about the progress of Senate Bill 331.
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