Iowa Tax Bill Likely
DES MOINES, Iowa-Lawmakers are expected to introduce a bill lter this week which will apply a new tax to credit unions of more than $150 million in assets and operating in several counties. Rep. Lance Horbach,a Republican and chief sponsor of the bill, said he has as many as 20 co-sponsors, indicating strong support for the measure. Horbach said his proposal was not motivated by the failed proposal by University of Iowa Community CU to buy a bank, but the long-festering complaints by bankers over tax equity. The advent of 40 new House members (out of 100) makes the time ripe to revisit the credit union tax issue, he said.
Dollar Sets Agenda
HARTFORD, Conn.-The NCUA board will have a full plate for the next four months as NCUA Chairman Dennis Dollar aims to complete several initiatives before the April expiration of his six-year term. Dollar, who will formally unveil his agenda before the Connecticut CU Association today, said his top priorities will be completing the rewrite of the agency's FOM manual, and finalizing new regulations setting investment and international branching powers for natural-person credit unions.
SAN DIEGO-The Westin Horton Plaza, host to The Credit Union Journal's upcoming SEG & Business Development Conference, has sold out its room block, but rooms remain available at the Sheraton Hotel located adjacent to the Westin. The popular, two-day meeting is scheduled for March 10-11. For info: www.cujournal.com.