Schwarzenegger Signs Two CCUL-Supported Bills

RANCHO CUCAMONGA, Calif. – Gov. Arnold Schwarzenegger signed into law on Sept. 23 two bills supported by the California Credit Union League that defer some debt repayments and interest for military reservists and National Guard members serving in Iraq or Afghanistan or killed while on active duty. SB-513, sponsored by state Sen. Nell Soto (D-Pomona) provides additional benefits for members of the California National Guard who are killed in the line of duty. It defers for six months without penalty or additional interest, any payments and interest due on financial obligations. AB-306, by state Assemblyman Joe Baca Jr. (D-Rialto) defers some debt repayments and interest for members of the U.S. Military Reserve or California National Guard on full-time active duty in Iraq or Afghanistan whose income is reduced by 90% or more due to their deployment. The deferment is for the period of active duty plus 60 days, or 180 days, whichever is less.